Ethereum faces continued downward pressure after breaking below a bear flag pattern and key support levels, with analysts identifying $1,550, $1,400, and $1,069 as the next critical zones. According to More Crypto Online, ETH rejected a descending trendline that has acted as resistance since an April peak, reinforcing a bearish Elliott Wave C-wave decline. Ali Charts reports that ETH reached a first downside target near $1,560 after breaking the major $2,282 support level. The technical breakdown strengthens the view that Ethereum's broader correction may extend further, with Fibonacci levels at $1,554 and $1,599 now attracting market attention as potential reaction zones.
Ethereum Bear Flag Breakdown Puts $1,550 and $1,400 Support Levels in Focus
Ethereum broke down from a bear flag pattern and failed to reclaim a key descending trendline, according to analysts at More Crypto Online. The chart shows ETH rejecting the yellow descending trendline, which has acted as resistance throughout the decline from the April peak. Following that rejection, price broke below the bear flag structure and continued lower.
According to the preferred Elliott Wave count, Ethereum is currently progressing through a larger C-wave decline. The chart highlights the next major support area between $1,550 and $1,400, with Fibonacci levels near $1,554 and $1,599 already attracting market attention. These levels could serve as potential reaction zones if selling pressure continues.
The analysis notes that sharp declines are often followed by corrective rebounds, meaning a temporary bounce from the support region cannot be ruled out. However, any recovery would likely remain corrective unless ETH can reclaim the descending yellow trendline and invalidate the current bearish structure. The trend remains negative as long as price stays below trendline resistance.
Ethereum Hits First Bearish Target as $1,070 Level Comes Into Focus
Ethereum reached the first downside target identified by analyst Ali Charts after falling to the $1,560 region. The weekly chart shows ETH trading near $1,549 after breaking below the major $2,282 support level. This area had previously acted as an important pivot zone, but sellers regained control and pushed price toward the analyst's first target around $1,560.
According to the chart, the next major support level sits near $1,069. This area marked a significant low during the previous market cycle and now represents the next downside target if bearish momentum continues. The broader structure also shows ETH moving away from the resistance zones at $3,335 and $4,868.
Multiple attempts to establish a sustained recovery failed, resulting in a series of lower highs and lower lows on the weekly timeframe. The loss of $2,282 shifted focus toward deeper support levels. As long as ETH remains below that former support area, the chart continues to favor downside pressure and keeps the $1,069 region in focus.
FAQ
What price levels are analysts watching for Ethereum?
Analysts identified three major support levels: $1,550-$1,400 range with Fibonacci levels at $1,554 and $1,599, and a longer-term support near $1,069. Ali Charts noted that ETH reached a first downside target around $1,560 after breaking the $2,282 support level.
Why did Ethereum decline toward $1,550?
Ethereum broke down from a bear flag pattern and rejected a descending trendline that has acted as resistance since an April peak. According to More Crypto Online's Elliott Wave analysis, ETH is progressing through a larger C-wave decline, which reinforced selling pressure after the trendline rejection.
