2025-12-09 19:42:56

Bearish Scenario: Where Does the Downside Risk Lie?

However, rejection at the current downward trendline represents a significant bearish risk for Ethereum.

Failure to break above this level is likely to expose the coin to the risk of retesting the support level formed by the overall wedge pattern's slanted trendline, which is located around $2,659.72. This level represents a critical line.

A confirmed break below the $2,659.72 support level would significantly increase selling momentum and could easily push the price down to retest the next support level, defined at $2,147.80.

Ethereum currently stands at a crossroads on the charts. A successful close above the current downward trendline resistance will confirm the breakout hypothesis. However, a quick rejection confirms the continuation of the short-term downtrend and directs the price toward the lower boundary.

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Before00zero

2025-12-09 19:41:45

Critical Crossroads for Ethereum – Weekly Wedge Analysis and Next Price Target at $3,460:

Technical analysis reveals that Ethereum (ETHUSD) remains largely confined within a large converging wedge pattern on the weekly chart. While the price briefly broke above and below this long-term structure in 2025, it has since settled back inside, confirming that this converging pattern is defining the overall trend.

Weekly Chart
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More directly, on the daily chart, the price of ETHUSD has broken above the descending trendline that has served as a major resistance since October. The price first approached this resistance on December 4, and has since consolidated sideways, touching the trendline. This tight consolidation—rather than an immediate pullback—indicates strong buying pressure, suggesting the potential for a decisive bullish breakout.

Typically, a collective third touch of a trendline is followed by a sharp rejection. If the bulls succeed in breaking this long-standing resistance to the upside, the main next target will be the descending trendline resistance near $3,460.00. A successful close above this descending trendline would signal a clear breakout from the October downtrend and confirm a bullish turning point.

Daily Chart
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