ChainCatcher reports that, according to Cointelegraph, Ethereum’s price is facing further downside risk. Technical analysis shows that ETH has entered the typical “Inverse Cup and Handle” breakdown phase. If the pattern completes, the target price is around $1,665, representing approximately 25% downside from the current level. From the trend perspective, ETH broke below the neckline of about $2,960 in January, then rebounded to test that level but was rejected and fell back, failing to regain the 20-day and 50-day EMAs, which have now become significant resistance levels.
Multiple technical signals resonate, reinforcing the expectation of continued short-term decline. On-chain data also leans bearish. The MVRV extreme deviation zone indicates a potential downside target near $1,725, with the possibility of further decline. Historically, ETH has often bottomed out and started to rebound after touching or breaking below the lower MVRV band. On a macro level, market risk appetite for cryptocurrencies has decreased, with some traders worried about a potential overall correction similar to past “four-year cycles” in 2026; additionally, the expectation that the “AI bubble” may burst has also prompted capital to avoid high-risk assets, intensifying ETH’s downward pressure.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Tom Lee’s BitMine Acquires 60,976 ETH, Holdings Now $10.3B
Bitmine Immersion Technologies reports total assets of $10.3 billion, including 4.53M ETH. With 3.04M ETH staked, it generates $174M annually at a 2.91% yield. The firm seeks to reach 5% of total ETH supply and is expanding its staking infrastructure.
CryptoFrontNews5m ago
ETH 15-minute increase of 1.02%: Ecosystem upgrade expectations resonate with active buying, driving the rally
From 14:30 to 14:45 (UTC) on March 10, 2026, ETH recorded a short-term gain of +1.02%, with the price rising from 2024.3 USDT to 2047.18 USDT, an amplitude of 1.13%. Trading volume during this period significantly increased, with active addresses rising from 12,800 to 15,600, and large on-chain transfers up by 30.2%, reflecting a notable increase in market attention and volatility.
The main driver of this movement is the Ethereum "Verde" technical upgrade testnet news.
GateNews1h ago
Whale pension-usdt.eth recently opened a long position. CL still holds 1,000 BTC and a threefold short position.
Gate News Report, March 10 — According to Onchain Lens monitoring, the whale address pension-usdt.eth, which previously made huge profits on BTC and ETH, recently opened a 2x leveraged CL long position on Hyperliquid. Meanwhile, the address still holds a 3x leveraged short position in BTC, totaling 1,000 BTC, with a nominal value of approximately $69.89 million, currently with an unrealized loss of about $1 million.
GateNews1h ago
