Ether (ETH) could see one other sharp decline after losing the support level at $2,800. Technical charts and on-chain data suggest that the downward trend will proceed.
Key Takeaways:
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Ether’s descending and symmetrical triangle configurations are converging at $2,100.
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According to on-chain data, Ether is at levels that previously preceded deeper price corrections.
Ether's technical specifications are at $2,100
The ETH/USD pair has fallen over 10% within the last three days and has fallen below the important thing support at $2,800.
Ether has not traded below this level since December 3, 2025, and a loss from this level suggests that lower ETH price levels might be on the horizon.
At the time of writing, ETH was trading at around $2,700, which is a “live or die” level for bulls, Metacryptox said, adding:
“If we fail to remain here, it can confirm bearish dominance and potentially open the doors to the mid-$2,500 area.”
The $2,800 level coincides with the horizontal line of a descending triangle that was broken on Thursday.
The next major support is at $2,500, which coincides with the 200-week easy moving average (SMA), as shown within the chart below.
Below this, the worth could fall towards the measured goal of the triangle at $2,150, a 20% decline from current levels.
ETH/USD every day chart. Source: Cointelegraph/TradingView
A bearish deviation from the relative strength index, which fell from 68 to 34 in early January, shows weakening price momentum.
Meanwhile, veteran trader Peter Brandt said the “burden of proof” is on bulls after the ETH/USD pair broke below the lower trendline of a symmetrical triangle.
Brandt’s chart suggests greater downside risk, especially after the worth breaks below $2,800.
ETH/USD every day chart. Source: Peter Brandt
The pattern's measured goal, calculated by adding the width of the triangle to the breakout point, is $2,100, a 22% decline from current price.
As Cointelegraph reported, the $3,000-$2,800 area was a key support zone for Ether, and losing this zone puts ETH susceptible to further losses.
Ethereum reflects past market situations before the bear market
Onchain data also shows similarities between the present ETH market configuration and former bear cycles.
Ether’s net unrealized gains/losses (NUPL) indicator has moved from “fear (yellow)” to “fear zone (orange),” a position normally related to the beginning of bear markets.
The NUPL measures the difference between the relative unrealized profit and relative unrealized lack of ETH holders.
In previous market cycles, the transition to fear was accompanied by prolonged price declines, as shown within the chart below.
ETH: net unrealized profit/loss. Source: Glassnode
Meanwhile, technical data shows that the 111-day moving average (MA) is currently below the 200-day MA. Similar overlaps triggered the beginning of deeper ETH price declines through the 2018 and 2022 bear markets, as shown within the chart below.
Ether's 111-day MA in comparison with its 200-day MA. Source: Glassnode
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