Ethereum

Based

bullish

PAIN

Ethereum (ETH) has faced a sharp pullback in recent days, dropping 14% over the past week. Despite this decline, analysts suggest the recent breakdown may not indicate weakness but could instead lead to the next major upward move. The asset is trading around $3,390 at press time, after gaining 2% in the past 24 hours.
Some technical analysts continue to point toward long-term chart structures and liquidation setups that support the possibility of a bullish continuation.
<h2 id="pattern-suggests-breakdown-could-precede-breakout">Pattern Suggests Breakdown Could Precede Breakout</h2>
Trader Tardigrade shared a multi-cycle view of Ethereum’s price action on the 3-day chart. The setup shows that ETH has previously entered strong uptrends following breakdowns from support levels. These breakdowns were followed by sideways ranges and later led to major breakouts.
In the latest move, ETH appears to be repeating this structure. Suggesting that the recent price weakness may serve as the starting point for the next upward trend, Tardigrade said,
<blockquote class="twitter-tweet">
 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a>/3-day A breakdown is essential for a massive surge <img src="https://s.w.org/images/core/emoji/16.0.1/72x72/1f525.png" alt="🔥" style="height: 1em; max-height: 1em;"><a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Ethereum</a> <a href="https://t.co/jMexdye4bg" rel="noopener noreferrer nofollow">pic.twitter.com/jMexdye4bg</a>
 — Trader Tardigrade (@TATrader_Alan) <a href="https://twitter.com/TATrader_Alan/status/1986346334547493227?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 6, 2025</a>
</blockquote>

Based on this pattern, ETH may be building a base before continuation.
<h2 id="long-term-structure-remains-in-place">Long-Term Structure Remains in Place</h2>
BACH, another market analyst, <a href="https://x.com/CyclesWithBach/status/1986091537189548433" rel="noopener noreferrer nofollow">pointed</a> to a long-term bullish pennant formation still intact on the weekly chart. Ethereum recently reclaimed the $3,000 breakout level, which aligns with the 0.382 Fibonacci retracement of the previous cycle. This area is being monitored as support.
Future price targets based on Fibonacci projections include $7,700, $15,500, and $30,500, with a potential macro top between 2025 and 2026. BACH commented that, “Crypto sentiment [is] completely washed out and in Extreme Fear,” referring to current market conditions that have historically occurred near bottom ranges.
<figure style="width: 100%" class="wp-caption aligncenter">
 <a href="https://cryptopotato.com/wp-content/uploads/2025/11/G4_9bJ5W0AAy57u.jpeg" rel="noopener noreferrer nofollow"><img src="https://cryptopotato.com/wp-content/uploads/2025/11/G4_9bJ5W0AAy57u.jpeg" alt="Ethereum (ETH) price chart" width="1199" height="707"></a>
 <figcaption>
 Source: BACH/X
 </figcaption>
</figure>
<h2 id="short-term-levels-and-leverage-signals">Short-Term Levels and Leverage Signals</h2>
Analyst Lennaert Snyder <a href="https://x.com/LennaertSnyder/status/1986376871559225474" rel="noopener noreferrer nofollow">noted</a> that ETH should hold the $3,300 level to maintain higher lows. He added that reclaiming $3,530 would be important.
<blockquote>
 “If we lose $3,300 with conviction I’m shorting the continuation to probably new lows,” he said.
</blockquote>
Liquidation data shows a buildup of short positions between $3,500 and $3,800. If the price moves higher, forced liquidations could push it up quickly. “MAX PAIN IS UP FOR $ETH,” <a href="https://x.com/crypto_goos/status/1986367112755966356" rel="noopener noreferrer nofollow">said</a> CryptoGoos, referring to this risk for short traders.
Despite the recent recovery, ETH has struggled to reclaim the $3,600–$3,700 zone. Analyst Ted <a href="https://x.com/TedPillows/status/1986352660745011408" rel="noopener noreferrer nofollow">said</a> the bounce was mostly driven by closed short positions.
<blockquote>
 “Until Ethereum reclaims the $3,600–$3,700 zone with strong inflows, the chances are it’ll go lower,” he noted.
</blockquote>
As CryptoPotato <a href="https://cryptopotato.com/ethereum-sellers-dominate-but-5k-year-end-target-holds-firm/" rel="noopener noreferrer nofollow">reported</a>, the Taker Buy-Sell Ratio on Binance remains below 1.0, showing more sell pressure than buy volume. This aligns with the broader view that selling has increased, even as buyers are cautiously watching for a reversal.
The post <a href="https://cryptopotato.com/is-ethereum-eth-about-to-rally-breakdown-points-to-bullish-setup/" rel="noopener noreferrer nofollow">Is Ethereum (ETH) About to Rally? Breakdown Points to Bullish Setup</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

Is Ethereum (ETH) About to Rally? Breakdown Points to Bullish Setup

Table of Contents

CryptoPotato_News

Other articles published on Nov 6, 2025

Join our free newsletter for daily crypto updates!