Bear Pennant Puts Ether at Risk of Drop Toward $1,100

[madmax]

Ether is flashing a classic bearish continuation signal on the daily chart, forming what technical analysts identify as a bear pennant pattern. This setup typically appears after a sharp decline, followed by a brief consolidation inside an upward-sloping triangle. A confirmed breakdown below the lower trendline near $1,950 could trigger a move equal to the height of the previous drop — placing a measured downside target near $1,100, roughly 43% below current levels.

Some analysts argue that bulls must defend the $1,800 support zone to invalidate the pattern and prevent further downside. Until then, the structure suggests that ETH remains under pressure, with technical momentum favoring sellers. If the breakdown confirms, it could mark a deeper phase of correction for the second-largest cryptocurrency by market capitalization.

[tradelikepro]

if $1,800 cracks cleanly, that measured move to ~$1,100 starts looking less “dramatic” and more mechanical.