Why Ethereum price could fall to $1,000

Ethereum price has printed a large bearish candle on the 2-day chart.
The volume profile has produced a classic ramping pattern.
Invalidation of the bearish downtrend is a breach at 2,660.

Tony M.FXStreet Contributor

Ethereum price displays a recently established bearish stronghold.

ETH price to $1,000

Ethereum price has printed a very lethal-looking bearish engulfing candle on the 2-day chart. The ETH price currently trades at $2,000, just above the previous candle's settling price. The bears could shock early buyers in the coming days as the price could continue south in freefall style towards $1400. If the technicals are correct, the Ethereum price could establish a countertrend rally before falling further into the $1,000 price level.

Ethereum price has seen a significant increase in bearish volume, which further confounds the idea of a $1,000 price target. The bears have printed a classic ramping pattern on the volume indicator, which can be used to forecast further drops in the future. If the technicals are correct, an opportunity to short the ETH price could present itself in the coming days.

ETH/USDT 2-Day Chart

Invalidation of the bearish downtrend is a breach at $2,660. If the bulls can breach this level, this bearish double zig-zag thesis will be deemed incorrect. The bulls could then aim for a $3,000 price target resulting in a 33% increase from the current Ethereum price.

Author

Tony M.

FXStreet Contributor

Tony Montpeirous began investing in cryptocurrencies in 2017. His trading style incorporates Elliot Wave, Auction Market Theory, Fibonacci and price action as the cornerstone of his technical analysis.

Bitcoin eyes 50-day EMA breakout, Ethereum consolidates, XRP steadies

Bitcoin, Ethereum, and Ripple trade near key technical levels on Friday as the broader cryptocurrency market pauses following last week's recovery. BTC is approaching the 50-day Exponential Moving Average while ETH continues to consolidate between two major EMAs.

Uniswap lead gains, Cardano and NEAR risk rejection at EMAs resistance

Top altcoins Uniswap, Cardano and Near Protocol all saw gains on Thursday after a slight recovery across the crypto market. UNI rallied over 10% on Thursday, reaching a six-month high after unveiling Launches, a new feature in its Web App that aggregates tokens across launchpads that leverages the decentralized exchange as their trading infrastructure.

Aave to sunset Sonic, Aptos, zkSync, Scroll reserves, affecting $98 million in supply

Aave is planning to sunset 75 low-activity reserves across its decentralized finance protocol as part of a broader effort to reduce operational, technical and economic risks across its network of deployments.

Strategy, Coinbase post weak Q2 earnings amid prediction market growth for the exchange

Strategy reported an $8.33 billion operating loss in the second quarter of 2026, according to its earnings report released Thursday. The losses were largely driven by an $8.32 billion unrealized loss on its Bitcoin holdings as the top crypto's price declined during the period. The company also reported an $8.22 billion net loss for the quarter, or $24.45 per diluted share.

Bitcoin: BTC holds firm, but the $100 Oil threat could change the game

Bitcoin (BTC) is modestly recovering, trading at $65,400 on Friday and holding firmly above the key support zone. US-listed spot Bitcoin Exchange Traded Funds (ETFs) supported BTC’s modest recovery as they continued to attract institutional inflows through Thursday, pointing to the third consecutive week of inflows.