Ethereum
Ethereum Could Crash To $1,700 If This Support Fails, Analyst Says
An analyst has explained how Ethereum (ETH) could see its price crash to $1,700 if the support level of this technical analysis (TA) pattern fails.
Ethereum Could Be In Danger Of Falling Under Ascending Channel Support
In a new post on X, analyst Ali Martinez has discussed about where Ethereum could head next based on a pattern forming in its 12-hour price chart. The pattern in question is an Ascending Parallel Channel from TA, which, as its name implies, involves two parallel trendlines that are sloped upwards.
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When the asset is inside this channel, it goes through consolidation towards a net upside. The higher tops in its price trace the upper line of the pattern, while the higher lows draw the lower level.
Like other TA patterns, the former line is assumed to act as a source of resistance in the near future and the latter as a point of support. Breaks out of either of these boundaries can imply a continuation of trend in that direction.
The Ascending Parallel Channel isn’t the only parallel channel in TA. When parallel consolidation happens towards the downside instead, the formation is known as a Descending Parallel Channel. Neither of these are the most commonly observed type, though, as that title is held by the basic Parallel Channel, which has its trendlines parallel to the time-axis (that is, they have zero slope).
Now, here is the chart shared by the analyst that shows the Ascending Channel that the 12-hour price of Ethereum has been trading inside for the last few years:
From the graph, it’s apparent that the Ethereum half-day price saw a very brief retest of the Ascending Channel’s lower level recently. The coin found support then, but its value is still floating quite close to the line, meaning that another retest could potentially happen soon. The level is currently situated at $2,500.
During the last few years, this line has continuously held for the cryptocurrency, so it’s possible that it may do so again in the near future. “If Ethereum $ETH holds above $2,500, it could rebound toward $4,000 or even $6,000,” notes Martinez.
The former target is around halfway through the channel from the current mark, while the latter corresponds to the upper level. The last time that ETH topped out was near the former line.
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“However, if $2,500 fails as support, the next target shifts to $1,700!” warns the analyst. From the current price of the coin, a crash to this target would mean a decrease of more than 39%.
It now remains to be seen whether Ethereum will retest the lower level of the Ascending Channel again in the coming days or not.
ETH Price
At the time of writing, Ethereum is floating around $2,800, down more than 6% over the last seven days.
Featured image from Dall-E, charts from TradingView.com
Ethereum
What It Means for ETH
Meet Samuel Edyme, Nickname – HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.
Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.
Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.
When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)
Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.
In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.
Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think’s probably unfeasible, I’ve done already a hundredfold.”
PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.
Ethereum
Ethereum Trades Inside A Multi-Year Bullish Pennant – Analyst Sees A Breakout Above $4K
Ethereum experienced one of the craziest days in its history last Monday, plunging over 30% in less than 24 hours amid widespread market panic fueled by U.S. trade war fears. However, within hours, ETH staged an impressive recovery following President Trump’s announcement of negotiations with Canada and Mexico to ease tariff concerns. This sharp rebound has reignited optimism among investors, with many now closely watching Ethereum’s next move.
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Despite the recent volatility, top analyst Jelle shared a technical analysis revealing that Ethereum is still trading within a massive bullish pennant that has been forming since 2021. This long-term structure suggests that ETH remains in a consolidation phase, building momentum for a breakout. According to Jelle, once Ethereum decisively breaks out of this pattern, a massive rally into price discovery is expected.
As the market stabilizes and investors reassess their positions, ETH remains one of the most closely watched assets. While short-term price action is unpredictable, the long-term bullish structure provides strong support for Ethereum’s growth potential. Traders and analysts alike are now looking for key technical signals that could confirm a breakout and propel ETH into new all-time highs.
Ethereum Struggles Below Key Supply Levels
Ethereum is currently facing serious selling pressure, struggling to reclaim the crucial $3,000 mark. Bulls are in trouble as ETH remains trapped below this level, leading to heightened uncertainty and volatility in the market.
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Every day that Ethereum trades below $3,000 increases the likelihood of a deeper correction, as traders remain cautious and sentiment weakens. The inability to gain momentum above this psychological level has left investors concerned about ETH’s short-term direction.
However, despite the ongoing struggles, top analyst Jelle shared a technical analysis on X, revealing that Ethereum is still trading inside a massive bullish pennant. According to Jelle, ETH has deviated from both the highs and the lows of the pattern, and now the market is setting its direction to tag key supply levels. This means that while short-term price action remains uncertain, Ethereum’s long-term structure suggests that a breakout could be on the horizon.
Jelle believes that once Ethereum manages to push above the bullish structure, a break above the $4,000 mark will follow. This breakout would confirm a rally into price discovery, setting the stage for Ethereum to reach new all-time highs. While bears remain in control for now, the long-term bullish formation suggests that ETH could be gearing up for a major move in the coming months.
Price Action Details: Technical Levels
Ethereum is currently trading at $2,820, still unable to test the critical $3,000 level. Price action remains weak, as ETH struggles to break above the $2,900 mark, which has now turned into a short-term supply zone. The failure to push higher signals that bulls are losing momentum, and the market remains in a state of uncertainty.
If Ethereum loses the $2,800 support level, a deeper correction could unfold, potentially dragging the price down to the $2,500 region. This would be a significant setback for bulls, as it would confirm further downside pressure and could extend the current consolidation phase.
On the other hand, if ETH manages to reclaim the $3,000-$3,100 level in the coming days, it would signal renewed bullish momentum. A successful breakout above this range could ignite a massive surge, pushing Ethereum toward higher supply levels and setting the stage for a potential run toward $3,500 and beyond.
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For now, Ethereum remains at a crucial juncture, with price action signaling both risk and opportunity. Traders and investors are closely watching key resistance and support levels, as ETH prepares for its next major move.
Featured image from Dall-E, chart from TradingView
Ethereum
Ethereum’s Price Still In The Major Uptrend – Analyst Forecast Potential For Further Gains
With the general crypto market still facing heightened volatility, Ethereum has once again failed to reclaim the pivotal $3,000 price level. Bearish pressure continues to linger in its price action, leading to speculations about its potential in the short term. Although ETH has failed to experience a major surge, analysts believe the altcoin could see a turnaround towards the upside shortly.
Ethereum Gearing Up For A Bullish Run?
Ethereum may have seen a notable decline in the last few days, but Ether Naysonal, a market expert and trader is unshaken about the heightened volatility. According to the technical expert, “ETH is still in its major uptrend,” indicating resilience amid broader market volatility.
Despite occasional pullbacks, the expert cites that ETH continues to hold key support levels, reinforcing optimistic sentiment among investors. With the altcoin maintaining its uptrend, it could pave the way for a potential breakout toward higher levels in the upcoming weeks.
Ether Naysonal highlighted alongside maintaining its major uptrend, ETH has also consistently held the $2,615 support level, which is good for its price action. However, for Ethereum to make a quick recovery, it must at least close above the $2,820 mark for one day.
A close above the $2,820 level would likely reignite bullish momentum for the altcoin again. Meanwhile. the much-anticipated pump will be triggered if the candle closes above $2,923.
Ethereum has experienced remarkable adoption and interest in spite of occasional price corrections. This growing institutional interest coupled with rising on-activity might serve as key factors bolstering the expected upside move.
Ether Naysonal has questioned the actions of individuals presently offloading their ETH holdings despite institutional investors accumulating ETH at a huge scale. Major companies are currently seen acquiring ETH in current market conditions.
Financial behemoth and asset manager firm Blackrock has purchased over 100,535 ETH, valued at $284 million. Furthermore, asset management company Fidelity has also acquired about 9,552 ETH, worth around $26.39 million.
While the biggest global investment institutions are still purchasing, the analyst asserts it is completely illogical for individual investors to sell after being exposed to misleading waves within a short period.
A Surge To New All-Time High Imminent
Several bullish structures have emerged on ETH’s chart, suggesting a possible rebound in the short term. With upside momentum building for ETH, the asset may be set for a rally toward a new all-time high.
After examining Ethereum’s price action, market expert Jonathan Carter highlighted that the asset is still trading within a Symmetrical Triangle pattern in the weekly time frame. Carter noted that liquidity was collected below support by recent downward wicks before returning to the pattern.
Once ETH breaks out of the ascending triangle, Carter anticipates a push towards higher targets such as $3,100, $4,000, $4,850, $6,000, and $7,500 in the long term.
Featured image from Unsplash, chart from Tradingview.com
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