Ethereum price continues to show signs of weakening momentum as bullish volume fades and bearish candlesticks strengthen, increasing the likelihood of a deeper correction towards key lower support levels.
summary
- Selling pressure continues to outweigh buying interest across multiple time frames
- Recent rebound has limited strength and signal momentum remains unstable
- Broader structure indicates Ethereum may still be looking for a confirmed bottom
Ethereum (ETH) recent price movements reflect increasing downside pressure as bullish momentum continues to weaken on higher time frames. A series of bearish engulfing candlesticks, combined with weakening buyer participation, changed the tone of the market to caution.
Despite BitMine increasing its Ethereum accumulation with large purchases, the overall trend situation continues to deteriorate, putting Ethereum at risk of extending the correction into a deeper support zone.
Important technical points of Ethereum price
- Bearish candlesticks and increased selling volume are signals of weakening bullish momentum
- Major support is located near $2,222, coinciding with weekly support, the low of the value area, and the 0.786 Fibonacci.
- Local rebound remains weak and short-term trend structure remains bearish
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ETHUSDT (1W) chart, source: TradingView
Ethereum’s price structure is starting to deteriorate as bullish volume continues to decline. Candlesticks on higher time frames consistently show bearish engulfment formations, highlighting increasing downside pressure. This action often precedes deeper correction actions, especially when combined with increased sell-side trading volumes.
The main downside price target is currently around $2,222. This zone has great technical significance, combining weekly support, value area lows, and the 0.786 Fibonacci retracement. Such levels of strong confluence typically serve as important reaction points in Ethereum’s broader market structure.
Another important area to note is the point of control that coincides with the 0.618 Fibonacci zone. This area has previously attracted high trading activity and could serve as a reference level if Ethereum turns higher in the future. However, until stronger signals emerge, the current situation continues to tilt further down.
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Ethereum recently experienced a local bounce, but the recovery is technically weak. Momentum indicators have limited strength and structure on lower time frames remains bearish. These shallow reactions are common during corrections, and often indicate that another leg may form before a meaningful upward reaction, despite some analysts claiming that Ethereum could eventually lead the next bull run due to catalysts that most investors are overlooking.
Ethereum remains vulnerable as selling pressure builds and there is no significant bullish volume coming in. Monitoring how price interacts with upcoming support levels will be important to understand if the correction is nearing exhaustion or if a deeper move is still unfolding.
What to expect from future price trends
If the current situation continues, Ethereum could continue to fall towards the $2,222 support area. Countering the existing downtrend will require a significant change in momentum or a sustained recovery at key structural levels. Until then, market structure continues to suggest a broader correction.
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