Ethereum pressure mounts as the ETHBTC pair breaks down from a key descending triangle structure. The weakening performance against Bitcoin suggests that bearish momentum may still be dominating the market, leaving Ethereum vulnerable to deeper pullbacks unless bulls quickly reclaim critical resistance levels.
ETHBTC Trendline Rejection Keeps Pressure On Ethereum
Crypto analyst Ardi recently pointed out that Ethereum continues to face weakness against Bitcoin as ETHBTC keeps rejecting a major descending trendline. Repeated rejections from this structure increase the likelihood of Ethereum printing fresh cycle lows against the US dollar if broader market conditions weaken further.
Meanwhile, ETHBTC is starting to break down from its descending triangle support, signaling growing bearish pressure on the pair. The analyst also noted that Ethereum is currently trading lower than it was when BTC was hovering around the $60,000 region, highlighting the extent of ETH’s relative underperformance in recent months. Based on the current structure, Ardi believes that if the crypto market experiences another broad decline, Ethereum could fall to new lows before Bitcoin even revisits the $60,000 level.
Ethereum is currently holding above the cycle low it established against Bitcoin in April last year, which represents the macro higher low on the chart. As long as that support continues to hold, Ardi believes ETH still has the potential to establish a broader higher-low structure and prepare for a possible reset as the next market cycle approaches.
Ethereum Pullback Remains Corrective Despite Short-Term Pressure
According to More Crypto Online, Ethereum short-term bearish pressure is still active, while the recent decline still appears to be corrective rather than the start of a stronger impulsive selloff. While the broader market structure remains fragile, the analysts noted that there is still no confirmed evidence suggesting a major long-term top has fully formed.
The expert explained that Ethereum could still attempt another upward move as long as price action remains above the lower boundary of its current channel and continues holding within the active support zone. Immediate support levels are located around $2,187 and $2,122. A successful bullish breakout above the $2,318 resistance area could open the path toward the $2,646 region.
However, More Crypto Online warned that the outlook may become significantly bearish if Ethereum breaks decisively below the lower channel support. Such a move would increase the probability that a larger market top is already in place and could shift attention back toward the February lows.
For now, the structure still points to a corrective pullback rather than a confirmed trend reversal. Key support levels remain at $2,187, $2,122, and $2,037, while resistance stands at $2,318 and $2,646. Until sellers produce a stronger breakdown, Ethereum’s larger recovery structure technically remains alive despite the ongoing weakness.
Credit: Source link
