Ethereum ($ETH) is trading around $2,900, down 1% in the past 24 hours and more than 10% for the week. A few days ago $ETH It has fallen below the $3,000 level and recently tested support around $2,700-$2,800. His strength has not yet recovered.
Failure patterns increase risk
Analyst Trader Kumamushi shared a three-day chart showing a bear flag forming on Ethereum. This pattern is characterized by a sharp decline, usually followed by further decline. The asset is currently below the flag's lower support.
The post notes that Ethereum needs to close above $2,906 in the near future to avoid a significant drop. “To avoid this breakdown, it takes 1 day and 19 hours to exceed $2,906.If this breakdown holds, the target would be around $1,666 based on previous moves.
$ETH/3-day#Ethereum breaks through the bear flag, target is $1,666 🤯
⏰ To avoid this breakdown, you must get back more than $2,906 within 1 day and 19 hours. pic.twitter.com/1Q5XZjg1qP— Trader Tardigrade (@TATrader_Alan) January 26, 2026
Another analyst, Ted, posted that Ethereum is trading flat around $2,900 after falling significantly earlier. Open interest is increasing, reaching 5.255 million, indicating that more positions are being opened despite the price being flat.
Funding remains slightly positive at 0.0011, but has declined, indicating interest has cooled. “The old Degen has been liquidated and now the new Degen has arrived.Increasing open interest despite a stable price could mean traders are preparing for the next move.
$ETH/$BTC Pair with key area
Michael van de Poppe, founder of the MNF Fund, shared the following graph. $ETH against Bitcoin. $ETH/$BTC We maintain the level of support that has been important to us. Price is in the higher timeframe zone but is currently below the 21-day moving average.
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“It is very important that we maintain this level,” Van de Poppe said.
If support is maintained, $ETH may benefit from $BTC. If not, the chart indicates an upcoming lower level.
Meanwhile, The CW is currently $ETH The price range corresponds to the previous whale accumulation zone. “Although the current price is in an attractive range for Ethereum whales,They point out that the realized prices for large accumulation wallets are close to current levels.
But whale stocks have been steadily declining since early January, according to data from analyst Ali Martinez. Ethereum ETFs have also posted losses recently. Weak prices and declining holdings suggest continued vigilance across large accounts.
