The Ethereum price experienced a significant decline after losing the critical 2,800 dollar support level during the last trading session. Technical reports indicate that the cryptocurrency has dropped more than 10 percent in three days, raising alarms among analysts who now project a potential retreat toward the 2,100 dollar zone today.
This downtrend, which was confirmed after breaking the base of a descending triangle, suggests that market control is now in the hands of sellers. According to analyst Metacryptox, the current level near 2,700 dollars represents a “do or die” zone for bulls, who must defend this range to avoid a larger crash toward the 200-week simple moving average in the coming days.
Technical and onchain signals warn of a prolonged bearish cycle
The chart outlook has turned gloomy following the formation of patterns that converge on much lower price targets for the asset. In this way, the symmetrical triangle breakout mentioned by veteran trader Peter Brandt places the measured target at 2,100 dollars, which would represent an additional 22 percent decrease in value. Therefore, the Ethereum price faces a weakness in its bullish momentum not seen since December 2025.
Likewise, onchain data reveals that the net unrealized profit/loss (NUPL) indicator has transitioned from the anxiety zone to the fear zone. For this reason, investor sentiment now resembles the start of previous bear markets, where unrealized losses forced massive cascade sales among holders. The blockchain now reflects an incipient capitulation structure that could accelerate the technical descent as liquidity vanishes from the order books.
Nonetheless, a negative crossover between the 111-day and 200-day moving averages reinforces the thesis of a deep short-term correction. Therefore, this technical pattern, which preceded the crypto winters of 2018 and 2022, suggests that the 2,500 dollar support will be vital for the price’s survival. Traders are cautiously watching as the RSI has collapsed from 68 to 34, confirming a total loss of buying strength across the main exchanges.
Is Ethereum’s return to the two thousand dollar levels imminent?
The relevance of this event lies in the loss of the historical support zone that was situated between 3,000 and 2,800 dollars. This milestone represents a structural shift, as the market has invalidated previous bullish projections that pointed toward 3,300 dollars earlier this month. In this way, the burden of proof now falls entirely on the buyers, who seem to have exhausted their available liquidity during the recent sell-off.
As fear sentiment takes hold of holders, selling pressure could intensify if key levels are not recovered soon. On the other hand, the similarity to past cycles indicates that the market could be entering a phase of aggressive deleveraging. Analysts suggest that the recovery of the Ethereum price will depend on a macroeconomic stabilization that has not yet appeared on the global financial horizon today.
Finally, volatility is expected to persist as the asset searches for a firm floor amid the current technical uncertainty. Although some metrics suggested a previous rally, market reality has imposed a narrative of extreme caution for everyone involved. Moving forward, the 2,100 dollar level consolidates as the magnet that will attract price action if bear dominance persists within the digital ecosystem.
