Ethereum

SoSoValue

DeFi

World Liberty Financial

<p>Ethereum price has struggled to recover from a local low established last week as whales continued to offload their holdings. Now, a multi-month symmetrical triangle suggests there could be more pain ahead.</p>
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  <span>Summary</span>
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   <li>Ethereum price is down 5% over this month.</li>
   <li>Whale selling and outflows from spot Ethereum ETFs have contributed to its downtrend.</li>
   <li>Multiple bearish patterns have formed on the daily chart.</li>
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<p>According to data from crypto.news, Ethereum (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="noopener noreferrer nofollow">ETH</a>) price has dropped 2.5% over the past 7 days and 5% from this month’s high of $3,292. Trading at $3,115 at press time, the largest altcoin by market cap is down as much as 37% from its all-time high reached in August last year.</p>
<p>Ethereum price has been under pressure this month due to whale selling. Data from Santiment shows that the number of wallets holding between 10,000 and 1 million ETH has declined steadily since mid-December.</p>
<figure class="wp-block-image size-full">
 <img loading="lazy" width="1558" height="533" src="https://media.crypto.news/2026/01/Screenshot-2026-01-13-122202.webp" alt="The number of addresses holding 10k-1 million ETH tokens have dropped since mid-December last year.">
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  Source: <a href="https://app.santiment.net/charts/WxFvjQ8e__sCl" target="_blank" rel="noopener noreferrer nofollow">Santiment</a>
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<p>Large-scale offloading of tokens by such investors often injects panic into retail holders, which in turn leads to further selling and loss of confidence.</p>
<p>The outflows from spot Ethereum ETFs have not helped either. <a href="https://sosovalue.com/assets/etf/us-eth-spot" target="_blank" rel="noopener noreferrer nofollow">Data</a> from SoSoValue shows that U.S. spot Ethereum ETFs have shed over $345 million over the past four trading sessions. <a href="https://crypto.news/bitcoin-etfs-log-250m-outflows-ethereum-funds-94m-exit/" target="_blank" rel="noopener noreferrer nofollow">Weak demand</a> from institutional investors has likely kept retail investor appetite in check as they wait for more clarity before re-entering the market.</p>
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<p>On-chain stats also point to weakness in Ethereum’s fundamentals that could be weighing on its price. DeFiLlama data shows that the <a href="https://defillama.com/chain/ethereum?stablecoinsMcap=false&amp;chainRevenue=false&amp;groupBy=weekly" target="_blank" rel="noopener noreferrer nofollow">total value locked</a> across DeFi protocols on the Ethereum blockchain has dropped from a September high of $257 billion to $175 billion.</p>
<p>Declining TVL typically signals a slowdown in network usage and capital inflows, and as such, it could reflect reduced investor confidence across the broader Ethereum ecosystem.</p>
<p>Derivative traders are also showing reduced interest. Data from <a href="https://www.coinglass.com/currencies/ETH/futures" target="_blank" rel="noopener noreferrer nofollow">CoinGlass</a> shows that Ethereum futures open interest has dropped since peaking at $70 billion in August to $39 billion at press time, highlighting a sharp decline in speculative positioning.&nbsp;</p>
<p>Since August, Ethereum price has fallen by over 36%.</p>
<h1 class="wp-block-heading" id="ethereum-price-analysis">Ethereum price analysis</h1>
<p>On the daily chart, Ethereum price has been forming a symmetrical <a href="https://crypto.news/ethereum-price-compresses-into-triangle-structure-why-breakout-is-approaching/" target="_blank" rel="noopener noreferrer nofollow">triangle pattern</a> since early November last year. A drop below the lower trendline of the pattern is usually a signal of bearish continuation, at least in the short term.</p>
<figure class="wp-block-image size-full">
 <img loading="lazy" width="1827" height="878" src="https://media.crypto.news/2026/01/ETHUSDT_2026-01-13_12-18-47.webp" alt="Ethereum price has formed a symmetrical triangle and an inverse cup and handle pattern on the daily chart.">
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  Ethereum price has formed a symmetrical triangle and an inverse cup and handle pattern on the daily chart — Jan. 13 | Source: <a href="https://crypto.news/price/ethereum/" target="_blank" rel="noopener noreferrer nofollow">crypto.news</a>
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<p>The charts also appear to be forming a large-scale inverse cup and handle pattern. The neckline of this pattern was at $2,619 as shown on the chart above.</p>
<p>As such, a drop below the $3,000 psychological support could open up a path for more downside, specifically towards the Nov. 21 low at $2,619, which also aligns with the neckline of the cup and handle pattern.&nbsp; Traders are likely to watch this area as a key support level.</p>
<p>A decisive break below that level would likely intensify selling pressure, potentially driving Ethereum down to $2,121.</p>
<p>On the contrary, if Ethereum price rebounds above the $3,269 resistance, which aligns with the 61.8% Fibonacci retracement level, it could invalidate the bearish setup and encourage a move toward higher targets.</p>
<p>Read more: <a href="https://crypto.news/xrp-price-forms-a-dragonfly-doji-ahead-of-us-cpi-clarity-act/" rel="noopener noreferrer nofollow"> XRP price forms dragonfly doji ahead of US CLARITY Act </a></p>
<p>Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.</p>

Ethereum price forms symmetrical triangle as whales sell, will it crash?

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