Here’s The Level To Keep An Eye On If The Ethereum Triangle Breakdown Plays Out

bitcoinistPublished on 2026-02-23Last updated on 2026-02-23

Abstract

In recent months, the Ethereum price has declined significantly alongside Bitcoin, with investors selling off coins in anticipation of further drops. Analysts predict continued market decline, expecting Ethereum to suffer a major retracement before finding a bottom. A technical analysis by Melikatrader on TradingView indicates Ethereum is consolidating in a symmetrical triangle pattern, struggling around the $1,977 level. The lack of upward momentum suggests bears have taken control. The price is nearing the triangle's apex, requiring a major move to confirm direction. The expected move is bearish. Traders should watch for a breakdown below the triangle's lower support at $1,912. If this support breaks, Ethereum could swiftly drop to the next target at $1,781, the final level of the triangle breakdown. Patience and confirmation are advised.

In the course of the last few months, the Ethereum price has seen a lot of decline, struggling alongside Bitcoin as investors rush to offload their coins. These sell-offs have come in anticipation of lower price levels, and with the price continuing to dip further, it seems the investors who sold earlier were right. Even now, analysts continue to predict that the market decline will continue, with the likes of Ethereum expected to suffer major retracement before a bottom is established.

Technical Patterns Show Where Ethereum Is Headed Next

In an analysis shared on the TradingView website, crypto analyst Melikatrader outlined that the Ethereum price could be seeing another major crash soon. So far, the digital asset has seen its price consolidation in what appears to be a large symmetrical triangle pattern. This comes while the price continues to chop below $2,000.

Mainly, most of the action has happened as the Ethereum price has struggled around the $1,977 level, which the analyst explains that the lack of upward momentum at this level could mean that bears have now officially taken full control of the altcoin’s price.

Taking the technical action into account, the crypto analyst explains that the Ethereum price is now nearing the apex of a triangle pattern. This comes after the price had been tightly packed between two major converging trend lines. At this point, the Ethereum price would need to make a major move to confirm the next direction.

Source: TradingView

Nevertheless, the expected move for Ethereum at this level is expected to be bearish. Essentially, the crypto analyst tells traders to wait for a breakdown to follow and for the price to fall below the lower support line of the triangle. For context, this support line lies at $1,912, making it the level to beat for bears.

Once this level is triggered, though, then the next move is for the Ethereum price to fall further. Expectation remains that a break of the lower trendline would lead to a retest of the lower trendline that marks resistance. This trendline is at $1,781, making it the final target of the triangle breakdown. “Keep a close eye on the lower boundary. If that support snaps, we likely see a swift move toward the $1,780 level. Stay patient and wait for the confirmation,” the analyst said in closing.

ETH price sees sharp fall to start the week | Source: ETHUSDT on Tradingview.com

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Related Questions

QWhat technical pattern is the Ethereum price currently forming according to the analyst?

AThe Ethereum price is forming a large symmetrical triangle pattern.

QAt what price point did Ethereum struggle to maintain upward momentum, indicating bearish control?

AEthereum struggled to maintain upward momentum at the $1,977 level.

QWhat is the critical support level that needs to break for a confirmed bearish breakdown?

AThe critical support level that needs to break is $1,912.

QWhat is the final target price level if the triangle breakdown occurs?

AThe final target price level for the triangle breakdown is $1,781.

QWhat should traders wait for before confirming the next directional move for Ethereum?

ATraders should wait for a breakdown below the lower support line of the triangle at $1,912 for confirmation.

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