{"id":447391,"date":"2022-05-15T15:56:48","date_gmt":"2022-05-15T12:56:48","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/ethereum-in-danger-of-25-crash-as-eth-price-forms-classic-bearish-technical-pattern\/"},"modified":"2022-05-15T15:56:48","modified_gmt":"2022-05-15T12:56:48","slug":"ethereum-in-danger-of-25-crash-as-eth-price-forms-classic-bearish-technical-pattern","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/ethereum-in-danger-of-25-crash-as-eth-price-forms-classic-bearish-technical-pattern\/","title":{"rendered":"# Ethereum in danger of 25% crash as ETH price forms classic bearish technical pattern"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3d56816703d\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3d56816703d\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/ethereum-in-danger-of-25-crash-as-eth-price-forms-classic-bearish-technical-pattern\/#%E2%80%9D_Ethereum_in_danger_of_25_crash_as_ETH_price_forms_classic_bearish_technical_pattern_%E2%80%9C\" >&#8221; Ethereum in danger of 25% crash as ETH price forms classic bearish technical pattern  &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/ethereum-in-danger-of-25-crash-as-eth-price-forms-classic-bearish-technical-pattern\/#ETH_price_to_1500\" >ETH price to $1,500?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/ethereum-in-danger-of-25-crash-as-eth-price-forms-classic-bearish-technical-pattern\/#Sell-off_pullback\" >Sell-off, pullback<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/ethereum-in-danger-of-25-crash-as-eth-price-forms-classic-bearish-technical-pattern\/#Extended_breakdown_scenario\" >Extended breakdown scenario<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Ethereum_in_danger_of_25_crash_as_ETH_price_forms_classic_bearish_technical_pattern_%E2%80%9C\"><\/span>&#8221; Ethereum in danger of 25% crash as ETH price forms classic bearish technical pattern  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>Ethereum&#8217;s native token Ether (ETH) looks ready to undergo a breakdown move in May as it forms a convincing &#8220;bear pennant&#8221; structure.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"ETH_price_to_1500\"><\/span>ETH price to $1,500?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>ETH&#8217;s price has been consolidating since May 11 inside a range defined by two converging trendlines. Its sideways move coincides with a drop in trading volumes, underscoring the possibility that ETH\/USD is painting a bear pennant.<\/p>\n<p>Bear pennants are bearish continuation patterns, meaning they resolve after the price breaks below the structure&#8217;s lower trendline and then falls by as much as the height of the previous move downside (called the flagpole).<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-05\/746ee9be-858e-4db1-90ef-eaf79eb12d91.png\"><figcaption style=\"text-align: center;\"><em>ETH\/USD two-hour price chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>As a result of this technical rule, Ether risks closing below its pennant structure, followed by additional moves to the downside. <\/p>\n<p>The height of ETH&#8217;s flagpole is around $650. Therefore, if the price undergoes breakdown at the pennant&#8217;s apex point near $2,030 then the structure&#8217;s bearish target will be below $1,500, down over 25% from today&#8217;s price.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Sell-off_pullback\"><\/span>Sell-off, pullback<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Interestingly, the bear pennant&#8217;s profit target falls into the area that preceded a 250% price rally in the February-November 2021 session. Also, the target is around Ether&#8217;s 200-week exponential moving average (200-day EMA; the blue wave), currently near $1,600.<\/p>\n<p>Ideally, the demand zone could prompt Ether traders to accumulate the tokens in anticipation of a sharp upside retracement. <\/p>\n<p>Suppose it h<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ens, then ETH&#8217;s price interim profit target would likely be the multi-month downward sloping trendline that has served as resistance in a &#8220;falling channel&#8221; pattern, as shown in the chart below.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-05\/c284172f-85bc-44fe-96eb-02e189a228bc.png\"><figcaption style=\"text-align: center;\"><em>ETH\/USD weekly price chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>ETH has already been rebounding after testing the demand zone (and the falling channel&#8217;s lower trendline) as support. This could push ETH\/USD to reach the channel&#8217;s upper trendline near $3,000, about 50% above today&#8217;s price, by June.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Extended_breakdown_scenario\"><\/span>Extended breakdown scenario<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The worst-case scenario could be ETH breaking below the demand zone, led by macro risks and their impact on the crypto market so far in 2022.<\/p>\n<p><em><strong>Related:\u00a0$1.9T wipeout in crypto risks spilling over to stocks, bonds \u2014 stablecoin Tether in focus<\/strong><\/em><\/p>\n<p>Notably, Ether has declined by over 50% quarter-to-date as investors reduce their exposure to the riskier assets, including Bitcoin (BTC) and tech stocks, in a higher interest rate environment.<\/p>\n<p>As Cointelegraph has reported, anticipations of additional stock market selloffs could weigh on cryptos, thus hurting Ether, Bitcoin, Cardano (ADA), and others in tandem.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-05\/bfa4bcf4-3c5c-4804-8678-9471b9dc396d.png\"><figcaption style=\"text-align: center;\"><em>Ethereum&#8217;s correlation coefficient with tech-heavy Nasdaq 100 is at 0.90. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>BOOX Research, a financial blogger at SeekingAlpha, remains long-term bullish on Bitcoin, Ethereum, and the broader crypto market but believes a recovery might take several years. Excerpts from its <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/seekingalpha.com\/article\/4510885-bitcoin-forget-crypto-winter-this-new-ice-age\">note<\/a>:<\/p>\n<blockquote><p>&#8220;While some of the corrections from the top may have simply shaken out the &#8216;hot money,&#8217; there is still a risk that a deteriorating macro environment opens the door for even deeper losses.&#8221;<\/p><\/blockquote>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. 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ETH price to $1,500? ETH&#8217;s price has been consolidating since May 11 inside a range defined by&#8230;<\/p>\n","protected":false},"author":1,"featured_media":447392,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDUvMzQwNmViOGYtN2FhMy00NjcxLWJmYWMtMzdjNDlkNTBiNzI3LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[82402,74891,74938,74939,78261,73785,71407],"class_list":["post-447391","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-ether-price","tag-ethereum","tag-ethereum-price","tag-market-analysis","tag-tech-analysis","tag-markets","tag-trading"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/447391","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=447391"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/447391\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/447392"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=447391"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=447391"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=447391"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}