Ether Nears $2,130 Breakdown Risk as Bearish Pennant Points to $800-$900
Updated
Updated · Reuters · May 22
Ether Nears $2,130 Breakdown Risk as Bearish Pennant Points to $800-$900
3 articles · Updated · Reuters · May 22
Ether is trading near $2,130, the lower edge of a bearish pennant that technical analysts say could trigger another leg down if support breaks decisively.
A confirmed move below that boundary would raise expectations for a slide toward $800-$900, extending a decline that has already left ether down 29% this year.
The pattern formed after Ethereum's sharp early-year drop, with prices consolidating in a triangle rather than mounting a sustained recovery.
A break above the pennant's upper boundary just over $2,460 would weaken the bearish signal and instead point to further gains.
A technical pattern predicts a 60% Ether crash. What fundamental strengths could prove this forecast wrong?
With Layer 2s handling most transactions, what is the long-term investment case for holding the ETH token?