Analyst: ETH could fall to $1,350 after breaking key daily support

Cryptocurrency analyst Pelin Ay has identified bearish signals on the Ethereum (ETH) daily chart, according to a post on X. Ay's analysis, which combines recent ETH price movements with Binance's long/short liquidation data, suggests that the market balance has tilted in favor of sellers after a downward break from a recently formed triangle pattern. The bearish scenario is further supported by the fact that key moving averages are also trending downward. With short-term moving averages currently below long-term ones, upward momentum has weakened, and any short-term rebound is likely to be met with selling pressure. The analyst explained that if ETH fails to reclaim the lower boundary of the triangle pattern, located around $2,140, its price could fall to as low as $1,350.