Ethereum has broken below the bull market support band and the $3.1,000 Fibonacci level, shifting focus to the lower support zone. However, the daily structure is still above the November-December lows as volume increases during the consolidation.
$ETH Bull market bands and below the $3.1,000 Fibonacci level
Ethereum fell below two widely watched technical levels this week as traders tracked fresh downside pressure after failing to push it above the $3,100 area.
Luca, a chart analyst who posts on X as @CrypticTrades_ said: ether It fell back below the “2D bull market support band,” which he explained is a reversal area that has been repeated in recent months. He also pointed to a level below the 0.618 Fibonacci level near $3,126 and broader losses in the $3,100 area, which the chart marks as key points of interest.
Ethereum USD 1D chart. sauce: Luca @CrypticTrades_ on X
As a result, Luca said the next area to look at is around $2,700, the support range for the higher time frame, shown in green on the chart. The chart highlights previous reactions near that band, with some wicks and bounces forming after the initial selloff.
Meanwhile, the same chart shows repeated rejections from the overhead resistance block shaded in purple, and multiple pullbacks labeled ‘breakdowns’ after price tests that zone. This setup frames the recent move as a further decline from resistance, with the focus now on support levels below it.
Mr Luka said he would remain on the sidelines for now and wait for further confirmation before taking a stronger position. He added that the loss of green support areas would increase the risk of a more severe pullback.
$ETH Structure remains above late 2025 lows as volume increases
Ethereum maintained its higher time frame base and continued trading above the November-December swing lows despite recent volatility. On the daily chart, the price remains below the descending moving average, but has not broken below the previous cycle low marked near the bottom in late 2025. Such actions maintain the broader structure, even if short-term momentum weakens.
Ethereum USD 1D chart. sauce: Yimin X @yxinsights on X
At the same time, during the consolidation phase, trading volumes expanded below prices. The chart shows activity rising during sideways moves rather than during impulsive selling. This pattern is often associated with positioning rather than distribution. While price action appears fragile at first glance, downside follow-through has been limited so far as there is no definitive breakdown below previous lows.
The Fibonacci overlay highlights a nearby reaction zone, with price wandering around lower retracement levels while remaining above the zero retracement anchored to the recent base. This placement suggests that the market is still in a correction phase rather than a definite trend reversal. Momentum indicators also declined, but remained at moderate levels, reflecting consolidation rather than capitulation.
Overall, the chart puts Ethereum in a wait-and-see mode. Price has not yet regained its key moving averages, but it continues to adhere to the structural lower bound built in late 2025. As long as these lows persist, the setup will continue to match the initial accumulation rather than the full breakdown.