Here’s Why Ethereum bears are targeting $1.8K ETH price
Ethereum Heres Why Ethereum bears are targeting $1.8K ETH price Ether‘s (ETH) price printed a “bear pennant” on the daily chart, a technical chart formation associated with strong downward momentum. Could a weakening technical setup and a decline in total value locked signal the continuation of ETH’s correction to $1,800? Key takeaways:Ether is forming a bear pennant on the daily chart, with a potential breakdown to $1,800.ETH price may see further losses if Ethereums total value locked continues to shrink. Ether bears eye ETH price “dump” to $1,800 Ethers 13% drop from its multi-month highs above $2,400 saw it breach a key trend line that has supported the price since early February. “ETH is going to dump hard soon?” Chain Mind in a video posted on X, suggesting where ETH/USD might move next after dropping below the ascending trend line. “This is the crucial moment for ETH,” Chain Mind said, adding that the price was required to reclaim the support level, otherwise a drop to areas below $1,800 was in the cards. Meanwhile, ETHs price has formed a bear pennant chart pattern on the daily chart, as shown below. A bear pennant pattern is a bearish setup that forms after the price consolidates inside two converging lines following a