Ethereum’s Bear Flag Pattern Signals Potential Drop to $2,400

Ethereum's price has been in a bearish trend since early October, struggling to maintain significant levels. Recent declines suggest the potential for further drops.

Ethereum is currently showing signs of a possible bearish continuation due to the bear flag pattern, indicating a potential further decline.
Market analyst Ali Martinez suggests $2,400 as a possible support level if current trends continue.
On-chain data shows Ethereum whales, holding at least 100,000 ETH, acquired their holdings around $2,400, a historically significant level.
Historically, when ETH nears this acquisition price, it often recovers significantly.

The current Ethereum price is $3,086, reflecting a 4% decline over the past day.