The Collapse of the Ethereum Triangle Model Signals the Possibility of Price Collapse

Ethereum is once again under pressure, currently trading at around $1,818.10, as technical indicators and on-chain data suggest that a deeper correction may be forming. According to cryptocurrency analyst Bit Bull, ETH has broken out of a symmetrical triangle — often seen as a precursor to strong price movements. If this breakout continues, ETH could fall to a low of $1,600 in the near future. Price analysis: The triangle pattern indicates a lower low. The latest analysis of the Bit Bull chart shows that Ethereum has not only fallen below the support level of the symmetrical triangle but is also entering the retest phase - a phase where the price temporarily returns to the broken trend line before continuing to move in the original direction. "After breaking and retesting, there is a high likelihood that Ethereum will continue its downward trend," Bit Bull said. "Unless ETH can reclaim the $1,800 level, the chances of further losses will be even higher." This bearish setup is further reinforced by falling trading volume and weakening momentum, adding weight to the bearish outlook. The $1,800 level, widely regarded as a psychological support level, has now become an important boundary. On-chain data confirms that network activity is weakening. Technical indicators are not the only source of concern. Chain analysis shows that the network activity of Ethereum has also fallen in recent months. The number of active addresses has decreased, while both transaction fees and ETH burned per transaction have decreased—reflecting a decline in user interaction and demand. At the same time, the increased issuance of ETH after the merger could further strain the support price by inflating the circulating supply. However, if the $1,800 level is maintained, there may be short-term price increase potential, according to analysts Dey There monitoring this asset. Contrary viewpoint: Standard Chartered reaches 4,000 dollars by the end of the year Despite short-term technical weaknesses, not all forecasts are bleak. An analyst at Standard Chartered recently adjusted their outlook, stating that Ethereum could rise to $4,000 by the end of 2025, citing trends in macro-level adoption and institutional capital inflows. However, currently, the cryptocurrency market is still in a state of tension. The total trading volume of Ethereum is fluctuating around 7 billion dollars, and large wallet movements could cause more volatility. Whether ETH recovers or continues to fall may depend on how traders react to the support level of 1,800 dollars. As we continue to monitor the evolving market structure of Ethereum, traders are encouraged to closely watch technical charts and on-chain signals to predict the next market movements.