Ethereum has been going through a rough patch in recent months after hitting a brand new all-time high in August 2025. The final quarter of the year was particularly brutal, with the cryptocurrency’s price down over 29% in Q4 2025. Despite this abysmal performance, things have not turned around, with technical indicators continuing to point to further decline for the altcoin. The latest is the appearance of a descending triangular structure, which suggests new disadvantages.
Ethereum price still not bullish
As crypto analyst Alpha Trade Scope points out in a TradingView article, the Ethereum price chart is still showing major signs of weakness. For example, the digital asset saw its price collapse below a descending trendline, which marked the continuation of the downtrend that began three months ago.
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The current price trend has led to the formation of a descending triangle structure, which emerged after the cryptocurrency made an impulsive move. Additionally, the trend of recording lower highs is evidence of increased selling pressure on the cryptocurrency. Doing this below the aforementioned descending trendline only lends credence to the fact that the downtrend is not over.
There has also been a major change in the market structure of Ethereum price. On the one hand, there has been a change in character (CHoCH), which shows that the price of Ethereum is no longer bullish, but rather bearish at this point.
Resistance has also risen at the $3,000 level over time, and the price has been trading well below this resistance for some time now. Furthermore, Ethereum price is in a tight range, trading within the fair value gap (FVG) defined between $2,930 and $2,960. This shows the rising resistance at this level, which could serve as a rejection in the event of a recovery attempt.
How low can the price of ETH go?
If the current downtrend continues and Ethereum price is rejected, the first downside target lies at $2,815. This first target serves as an early support for the cryptocurrency and a destination for an initial liquidity sweep as investors sell into the decline. However, this is not the end goal.
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In the event of a further breakout, $2,800 is expected to give way, leading to the second major target at $2,748. This target is more of a major demand area and is more likely to trigger a rebound due to the increasing buying pressure at this point. “The chart shows a classic bearish continuation pattern, favoring downward expansion if support breaks with confirmation,” the analyst said.
Featured image of Dall.E, chart by TradingView.com
