Ethereum price has confirmed a dreaded death cross pattern on the weekly chart. Will it crash as demand for its ETFs continues to falter?<\/p>\n
\n Summary<\/span>\n <\/p>\n <\/p>\n According to data from crypto.news, Ethereum (ETH<\/a>) price has plummeted since mid-January this year. Trading around $2,000, which is a key psychological support level, the leading altcoin by market cap remains 40% below its yearly high.<\/p>\n The sharp downtick in price came amid massive liquidation events<\/a> that have plagued the sector and a confluence of bearish headwinds coming from macroeconomic<\/a> and geopolitical fronts.<\/p>\n As of now, Ethereum price remains at risk of prolonging the downtrend as traders remain precarious now that a highly bearish pattern has been validated. On the weekly chart, the 20-day exponential moving average has crossed below the 50-day one, forming what traders call a death cross.<\/p>\n Death crosses are one of the strongest signals of potential downtrend in the market, especially when supported by other bearish indications.<\/p>\n <\/p>\n Recent ETH\u00a0 price action has respected a descending parallel channel pattern, which had been forming since mid-August last year. Usually, as long as an asset\u2019s price remains within the boundaries of the pattern, they tend to remain in a downtrend over the longer run.<\/p>\n Such a bearish outlook looks highly likely as the ETH price has fallen below the 23.6% Fibonacci retracement level at around the $2,200 support, making ETH prone to a drop towards its April 7 low of $1,380. This would mark a roughly 30% drop from current prices.<\/p>\n On the contrary, if bulls manage to drive ETH price back above the $2,200 mark, the bearish forecast will be invalidated.<\/p>\n\n
![\"Ethereum](\"https:\/\/media.crypto.news\/2026\/02\/ETHUSDT_2026-02-18_13-03-19.webp\")