Ethereum price to resume the declining direction? The market expert determines the preparation of the declining graph
Ethereum price achieved a quick and powerful return at the beginning of the second quarter of the year, after he struggled in the first few months of 2025. While “Altcoins” is in a place much better than it was a few months ago, ETH did not admire in particular in the past few weeks.
The price of Ethereum was stuck in the unification range before it decreased to a new decrease during the past week. In the late hours of Saturday, June 21, Altcoin’s value fell to less than $ 2300 in one step, reflecting the market pressure in the market due to the escalating tensions in Asia.
Is the price of ETH linked to a level of $ 1,200 again?
In the June 21 publication on the X Platform, the Legal Market Technician (CMT) Aksel Kibar Draw An interesting landmark of ETHEREUM price in the next few weeks. According to the market expert, the ETH price can prepare for a period of important landing movement.
The reason behind this landfill is the movement of the emerging canal style prices on the ETHEREUM chart on the weekly timetable. The emerging canal is a technical analysis style characterized by two main (upward) directions: the upper line that connects the highest level in the swing and the lower line that connects the lowest levels of the swing.
Usually, and Ascending channel pattern It indicates the continued direction of the upward price. However, the outbreak of this channel can be used to determine the reflection of the direction or continuity. For example, if the outbreak occurs below the lower direction line, it indicates that there may be a shift from ascending direction to a declining direction.
Source: @TechCharts on X
As shown in the graph above, this collapse was the case for ETAREUM price when it surrendered to great declining pressure earlier this year. The value of Altcoin fell to up to $ 1,200 in early April before witnessing a strong return above the level of $ 2,000.
In his position on X, KIBAR assumed that the last bullish momentum that was seen with the price of ETAREUM could be just a re -test of the broken lower canal limits. If this is the case, the ETH price may return to $ 1,200 or even less – about 900 dollars.
Ethereum price at a glance
As of the writing of these lines, the price of ETH is located below the level of $ 2300, which reflects a decrease of more than 5 % in the past 24 hours. According to data from Coingecko, Altcoin has almost 9 % decreased on the weekly timeline.
The price of ETH on the daily timeframe | Source: ETHUSDT chart on TradingView
Distinctive image from Istock, tradingvief chart
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