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>>The breakdown of the Ethereum triangle intensifies pressure on its recovery prospects.

The breakdown of the Ethereum triangle intensifies pressure on its recovery prospects.

crypthub

about 1 hour ago

Market Pressure on Ethereum

Ethereum is losing ground against Bitcoin as the ETHBTC pair repeatedly rejects a descending triangle trendline. The breakdown of this support suggests bearish momentum still dominates. Analysts warn that if broader market weakness resumes, ETH could slip to new cycle lows before Bitcoin retests $60k.

Technical Outlook and Key Levels

Short‑term charts show a corrective pullback rather than a full‑blown sell‑off. Immediate support sits near $2,187 and $2,122, with a stronger floor around $2,037. A bullish break above $2,318 could lift price to $2,646, while a decisive drop below the lower channel would signal a potential top.

Potential Scenarios

If the macro higher‑low from April holds, Ethereum may form a broader higher‑low structure and reset for the next cycle. Conversely, a clear breakdown could confirm a larger market top and shift focus back to February lows. Until sellers force a stronger breakdown, the recovery framework remains technically viable.