⚠️ Ethereum Is Flashing Multiple Bearish Signals — Pennant Breakdown in Play
Ethereum’s price action is getting shaky. The chart is threatening a bearish pennant breakdown, and if this pattern confirms, the next major downside target sits around $2,622.
That breakdown risk isn’t happening in isolation:
$ETH ETFs saw ~$545M outflows in December, showing real hesitation from institutions.
Yesterday’s +$67.8M inflow breaks a week-long negative streak — but it’s not enough to flip the broader trend yet.
The 50D MA just crossed below the 200D MA, forming a death cross, a classic bearish momentum signal.
Futures open interest is still ~50% below August highs, meaning speculators haven’t returned in force.
Right now, $ETH needs strength — and specifically, a daily close above $3,100 — to invalidate the bearish structure.
Failing to reclaim that level keeps downside risk firmly on the table.
If $BTC keeps dominating rotations, ETH will need a catalyst to catch up. Until then, caution is still the smarter play.
