Red alert as the price of Ethereum invalidates the bullish pattern of the key

ethereum Price crashed at a key support level on Monday, increasing the risk of a greater inconvenience after invalidating a crucial pattern of the upward table.

ethereum (eth) fell to a minimum of $ 2,146, its lowest level since August last year. It has decreased by approximately 40% since its maximum of December.

The price of ethereum invalidates the H&S Patron

The weekly graph shows that ethereum has formed two different patterns in recent months. First, he developed a triple training at the level of $ 4,000, struggling to break over that point since March last year.

A triple top is a well -known bearish signal, which often leads to greater losses once the price falls below the neckline. In the case of ethereum, the neckline was $ 2,146, which was its lowest level in August last year.

ethereum also formed an inverse pattern of the head and shoulders, a popular upward indicator. This pattern consists of a neckline, two shoulders and one head. In this case, the neckline was at $ 4,000, the right shoulder was at $ 2,830 and the head was $ 2,145. However, ethereum has invalidated the pattern with reverse head and shoulders moving under the left shoulder.

With the triple top pattern now at stake, ethereum could face more decreases, potentially falling to the following key support to $ 1,520, its lowest point in October 2023. A strong bullward break would only be confirmed if ethereum recovers over the Triple resistance to $ 4,000.

eth Network faces great challenges

ethereum's pricing struggles come when the network dealt with significant challenges. Data from Tokentermal The data show that ethereum is no longer the most profitable blockchain network.

So far this year, ethereum has generated $ 155 million in rates, which is staying behind the circle, which has won $ 169 million. Meanwhile, Solana, Tron, Jito and Tether have published $ 261 million, $ 294 million, $ 303 million and $ 414 million in rates, respectively.

ethereum has also lost its long -standing domain in the decentralized exchange sector. In the last seven days, decentralized exchanges based on ethereum processed almost $ 20 billion in transactions, slower than $ 25.7 billion of the BNB and Solana's chain. $ 42 billion.

Tron (TRX) has also surpassed ethereum in the stablecoin transaction volume, mainly due to its lowest transaction rates.

In addition, the funds quoted in ethereum Spot ethereum have seen a warm reception on Wall Street, attracting only $ 2.76 billion in tickets since September last year. In contrast, bitcoin's funds have obtained more than $ 40 billion.