Ethereum's Unique Crash Path Revealed: A Potential Bottom at $2,187

Ethereum's price has recently experienced further decline, dipping below $3,000 with a 6.8% loss over the last day. A deeper analysis suggests that this drop is part of a larger price trend, potentially leading to a bottom at $2,187. This article explores Ethereum's trading patterns over the past two years and discusses the implications of current price movements.

Key Takeaways

Ethereum has fallen below $3,000, losing 6.8% in the last 24 hours.
The cryptocurrency has been trading in a broad horizontal range for nearly two years.
A significant downside target of $2,187 has emerged based on market patterns.
Ethereum's current trading range suggests possible further declines before a potential recovery.
Activity may remain subdued until January 2026, limiting directional trading opportunities.

Ethereum

Ethereum’s Two-Year Trading Trend

Ethereum has mostly fluctuated within a wide horizontal range for almost two years, excluding a couple of significant breakouts: one below resistance in early 2025 and another above resistance later that year. This latter surge resulted in a price peak of $4,946 in August. Over the weekly timeframe, the price has consistently adhered to an upper boundary of $4,000 to $4,100, while demand remains steady near the support level above $2,100.

The current price action has created a structure that resembles an inverse head and shoulders pattern on a macro scale. Rather than indicating imminent growth, this formation illustrates how Ethereum’s price has moved between the established trendlines. Typically, mid-range reactions play a crucial role in determining whether the cryptocurrency rallies toward resistance or retreats toward support.

Ethereum
Source: Chart from Dona on X

Currently, Ethereum is trading in the midpoint of its two-year range. This context frames the recent bearish movement as a potential rotation toward the lower trendline rather than a complete breakdown.

The Significance of $2,187 as a Downside Target

The analysis emphasizes the critical lower boundary near $2,187. This price level has historically functioned as a support floor during previous downtrends, notably in 2024 and again in July 2025.

If Ethereum continues trading under the current mid-range support of about $3,000, it might follow a path down to this lower boundary, potentially hitting $2,187. At present, Ethereum is trading at $2,928, which is approximately 25% above the critical target of $2,187. Although such a decline would be concerning for bullish traders, it would not completely undermine the overarching market structure. Instead, it would signify yet another cycle within the range, akin to previous downturns that eventually led to recovery phases.

Dona's outlook also notes that trading activity may remain low in the immediate future. As the year draws to a close and liquidity diminishes, taking directional positions could be less appealing. Therefore, significant market movements are likely to be postponed until January 2026.

Ethereum
ETH trading at $2,929 on the 1D chart | Source: ETHUSDT on Tradingview.com