Home BlockchainEthereum Analysis: Classic Chart Pattern Signals ETH Could Slip Below $2K

Ethereum Analysis: Classic Chart Pattern Signals ETH Could Slip Below $2K

by Vivek Kumar
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Ethereum Analysis: Classic Chart Pattern Signals ETH Could Slip Below $2K

The price of Ethereum’s native token, Ether (ETH), risks sliding below $2,000 in February as a classic bearish setup plays out.

Key takeaways:

  • ETH breakdown keeps $1,665 downside target in focus.

  • MVRV bands also point to price sliding toward $1,725 or lower before a potential bottom.

ETH/USD daily chart. Source: TradingView

ETH risks declining 25% in February

As of Wednesday, ETH had entered the breakdown stage of its prevailing inverse-cup-and-handle (IC&H) pattern. This could extend a downtrend…

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