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Ether (ETH<\/a>), the native token of Ethereum, is showing signs of bullish exhaustion after a steep 65% decline over the past three months. The pace of the downtrend and the oversold conditions shown by various ETH price metrics have investors wondering if a market bottom is approaching.<\/p>\n Ether’s current price action mirrors a familiar fractal pattern seen in 2018 and 2022. In both instances, ETH price saw euphoric rallies that ended with sharp breakdowns and prolonged bear markets.<\/p>\n Each of these cycles shared the following key traits:<\/p>\n Higher price highs were accompanied by lower highs in the relative strength index, <\/a>which is a classic sign of bearish divergence and weakening momentum.<\/p>\n<\/li>\n<\/ul>\n ETH\/USD weekly price chart. Source: TradingView<\/em><\/p>\n<\/figcaption><\/figure>\n After the price peak (cycle tops in the chart above), ETH retraced heavily, often falling through key Fibonacci levels.<\/p>\n<\/li>\n Cycle bottoms typically formed once the RSI dipped into oversold territory (below 30), with price stabilizing near historical Fibonacci zones.<\/p>\n<\/li>\n<\/ul>\n The current setup resembles this structure. <\/p>\n In December 2024, Ether formed a higher high near $4,095, while the RSI made a lower high—mirroring the bearish divergence seen in previous tops. This divergence marked the beginning of a sharp correction, much like the patterns seen in 2018 and 2022. <\/p>\n Currently, ETH’s price has closed below the 1.0 Fibonacci retracement level at around $1,550. Meanwhile, its weekly RSI is still above the oversold threshold of 30, suggesting room for further declines, at least until the reading drops below 30.<\/p>\n ETH\/USD weekly RSI performance chart. Source: TradingView<\/em><\/p>\n<\/figcaption><\/figure>\n The fractal suggests Ethereum could be in the final leg of its decline, with the next potential price targets inside the $990 – $1,240 price range, aligning with the 0.618-0.786 Fibonacci retracement area.<\/p>\n Source: <\/em>Mike McGlone<\/em><\/a><\/p>\n<\/figcaption><\/figure>\n Related: <\/strong><\/em>3 reasons Ethereum could turn a corner: Kain Warwick, X Hall of Flame<\/strong><\/em><\/a><\/p>\nETH fractals point to a drop to $1,000<\/h2>\n
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Ethereum NUPL falls into ‘capitulation’ — Another bottom indicator<\/h2>\n