Ethereum (ETH) breaks below $1,550; bearish targets shift to $1,400 and $1,070
Ethereum (ETH) has fallen below key support and slipped under $1,550 after a bear-flag breakdown and repeated failure to reclaim a descending trendline. Analysts cited in the coverage say the rejection near downtrend resistance after the April peak suggests the correction may still be unfinished.
On the daily chart, ETH is framed as being in a larger Elliott Wave C-wave decline. The next support zone is expected between $1,550 and $1,400, with reaction areas flagged near the Fibonacci references around $1,554 and $1,599. A short-term rebound is possible, but it is expected to remain corrective unless ETH can reclaim the descending trendline and invalidate the bearish structure.
On the weekly view, Ali Charts notes ETH reached an initial downside target around $1,560 after losing the long-term pivot at $2,282. That shift puts sellers back in control, with price sliding toward about $1,549 and the next major downside objective highlighted at $1,069–$1,070.
For traders, the bias stays bearish while ETH remains below the falling trendline. Any bounce may offer a tactical entry, but trend reversal would require a decisive recovery above resistance.
Bearish
Both articles keep a bearish technical framing for ETH. The key new development in the later update is the consolidation of targets: it connects the daily setup (support band $1,550–$1,400 and focus near $1,554/$1,599) with the weekly roadmap (Ali Charts: breakdown of the $2,282 pivot, initial downside target near $1,560, and next objective at $1,069–$1,070).
In the short term, sellers appear to be in control after the failed retest of the descending trendline, making rallies more likely to be corrective rather than trend-changing. Traders may see bounces as opportunities to sell or to manage risk, especially if ETH cannot regain the trendline.
In the long term, the argument is that losing the higher-timeframe pivot at $2,282 shifts the structure toward lower highs and lower lows, increasing the probability of deeper downside follow-through toward ~$1,070. A meaningful bullish change would likely require a decisive breakout and hold above the descending trendline, which neither summary suggests has occurred.