Ethereum is among the top cryptocurrencies but has recently performed poorly, causing concerns for investors. If the bearish trend continues, ETH could fall below $2,000. However, a bullish falling wedge pattern suggests a possible price reversal.
The falling wedge has nearly completed, according to crypto analyst CobraVanguard on TradingView. This pattern can indicate either a bullish breakout or further bearish decline. If a breakout occurs, ETH could surge, with bullish divergence on the MACD supporting this possibility.
Yet, if the price fails to break out, continued bearish pressure from large holders' sell-offs could pull ETH below $2,000, potentially leading to a low of $1,778 or even $1,500. Poor volume could worsen this outcome.
