- Ethereum has dropped to $2,670, down 35% from its December excessive, as competitors from Layer-1 and Layer-2 networks grows.
- Ethereum ETFs are seeing outflows, totaling $3.15B, whereas Bitcoin ETFs have pulled in almost $40B.
- Three bearish patterns—demise cross, rising wedge, and bearish pennant—recommend a possible drop to $2,000.
Ethereum continues to wrestle, with three dangerous chart formations hinting at a possible 20% crash. The second-largest crypto dipped to $2,670 on Monday, now down over 35% from its December highs—and the outlook isn’t getting any higher.
Ethereum Dropping Floor to Rivals
Ethereum isn’t simply battling value motion—it’s additionally preventing for market dominance.
Layer-1 rivals like Berachain, Solana, and BNB Sensible Chain are gaining traction.
Layer-2 options like Base and Arbitrum are pulling customers away with decrease charges.
Ethereum DEX quantity hit $81B in 30 days, however Base and Arbitrum collectively processed $63B.
In the meantime, Ethereum ETFs aren’t seeing the demand many anticipated—they’ve racked up $3.15B in outflows, whereas Bitcoin ETFs have pulled in almost $40B.
coinbase.com
Key Metrics Present Weakening Momentum
The indicators of slowing curiosity are in all places:
- ETH every day buying and selling quantity dropped to $126B, down from $330B in December.
- Community income fell to $5M on Sunday, in comparison with $58M in November.
- Futures open curiosity slid from $35B to $23.3B, displaying weakened market confidence.
If this pattern continues, ETH might face a fair sharper correction.
Three Bearish Patterns Recommend Extra Draw back
Ethereum’s technical charts aren’t providing a lot hope both—a number of traditional bearish formations have taken form:
- A demise cross fashioned on Feb. 9, when the 50-day & 200-day WMA crossed downward.
- A rising wedge sample is signaling a possible breakdown.
- A bearish pennant formation factors to additional weak point forward.
If ETH breaks under $2,166, the following key assist is $2,000—and if that degree fails, extra draw back might comply with.
For now? Ethereum is hanging on, however the charts aren’t wanting pleasant.