Crypto: Ethereum Price: Classic Chart Pattern Puts Sub-$2k ETH In Focus

Ether risks declining toward the $1,665-$1,725 range in February, according to a confluence of bearish technical and on-chain indicators.

The price of Ethereum’s native token, Ether (ETH), risks sliding below $2,000 in February as a classic bearish setup plays out.

ETH breakdown keeps $1,665 downside target in focus.

MVRV bands also point to price sliding toward $1,725 or lower before a potential bottom.

As of Wednesday, ETH had entered the breakdown stage of its prevailing inverse-cup-and-handle (IC&H) pattern. This could extend a downtrend that has already erased about 60% from its August 2025 peak.

An IC&H pattern forms when price forms a rounded top and then drifts higher in a small recovery channel. It typically resolves when the price breaks below the neckline support, often falling by as much as the cup’s maximum height.

Ether broke below the inverse cup-and-handle neckline near $2,960 in January. It later rebounded to retest that level as resistance, a common post-breakdown move, only to resume its decline.

ETH’s rebound also stalled below the 20-day (green) and 50-day (red) EMAs, which acted as overhead resistance.

These confluence indicators raised ETH’s odds of declining toward the IC&H breakdown target at around $1,665, down 25%, in February or by early March.

Historically, the inverse cup-and-handle hits its projected downside target with an 82% success rate, according to a study by Chartswatcher.

Source: CoinTelegraph