Ethereum slid 5.5% on Tuesday, dropping below $1,900 for the first time since late February and touching a two-month low of $1,880. The move broke ether out of a five-day trading range between $1,965 and $2,035, catching traders off guard after a period of relative calm.
The bear flag that turned real
Analysts had flagged a repeating bear-flag pattern on the three-day chart, and Tuesday's breakdown confirmed it. The current price structure mirrors the correction pattern seen from the fourth quarter of 2024 through the first quarter of 2025, which some technicians described as a 'final dip' before a potential bullish rally. For now, that comparison is being tested in real time.
Where support lives
The $1,825 level marks the bottom of a four-month horizontal channel. If price holds above $1,750 on a daily close, that zone becomes a potential entry point. But a weekly close below $1,850 could trigger downside acceleration. Holding the $1,750 support is critical — losing it risks a drop to $1,560 and, in a worst case, $1,070.
A second strike against the uptrend
Ethereum closed below its multi-year uptrend for the second time in five months. The prior occurrence in early 2026 led to a sharp rejection near $2,400 and limited the upside for weeks. A repeat would put any short-term recovery in doubt, especially with the broader market already on edge.
Whether the $1,750 support holds on daily closes will decide if this breakdown is a final shakeout or the start of a deeper correction. No catalyst has been pinned to the move — it's a technical unwind, for now.
