Ethereum (ETHUSD) had the strongest 1W red candle last week since January 26 and technically that has initiated the 3rd Bearish Leg of the current Bear Cycle.
The successive rejections on the 1W MA200 (orange trend-line), highlighted the absence of buying power to push above this Resistance and technically that is putting an end to the 3.5 month consolidation phase, which is similar to the previous two that initiated identical Bearish Legs of around -48% declines.
The first level of Support is the 1M MA100 (red trend-line) around $1750, which has supported on the Feb 02 2026 and April 07 2025 Lows and if broken, the April 2025 Low itself of $1390.
Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea!