{"id":19704,"date":"2026-01-13T08:45:56","date_gmt":"2026-01-13T08:45:56","guid":{"rendered":"https:\/\/bitunikey.com\/news\/ethereum-price-forms-symmetrical-triangle-as-whales-sell-will-it-crash\/"},"modified":"2026-01-13T08:46:04","modified_gmt":"2026-01-13T08:46:04","slug":"ethereum-price-forms-symmetrical-triangle-as-whales-sell-will-it-crash","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/ethereum-price-forms-symmetrical-triangle-as-whales-sell-will-it-crash\/","title":{"rendered":"Ethereum price forms symmetrical triangle as whales sell, will it crash?"},"content":{"rendered":"<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">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>\n<div id=\"cn-block-summary-block_11fc9bcc485a0a817220d7d92a16f889\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Ethereum price is down 5% over this month.<\/li>\n<li>Whale selling and outflows from spot Ethereum ETFs have contributed to its downtrend.<\/li>\n<li>Multiple bearish patterns have formed on the daily chart.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>According to data from crypto.news, Ethereum (ETH) price has dropped 2.5% over the past 7 days and 5% from this month\u2019s 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>\n<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>\n<figure class=\"wp-block-image size-full\"><figcaption class=\"wp-element-caption\">Source: <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/app.santiment.net\/charts\/WxFvjQ8e__sCl\" target=\"_blank\" rel=\"nofollow\">Santiment<\/a><\/figcaption><\/figure>\n<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>\n<p>The outflows from spot Ethereum ETFs have not helped either. <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/sosovalue.com\/assets\/etf\/us-eth-spot\" target=\"_blank\" rel=\"nofollow\">Data<\/a> from SoSoValue shows that U.S. spot Ethereum ETFs have shed over $345 million over the past four trading sessions. Weak demand from institutional investors has likely kept retail investor appetite in check as they wait for more clarity before re-entering the market.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>On-chain stats also point to weakness in Ethereum\u2019s fundamentals that could be weighing on its price. DeFiLlama data shows that the <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/defillama.com\/chain\/ethereum?stablecoinsMcap=false&amp;chainRevenue=false&amp;groupBy=weekly\" target=\"_blank\" rel=\"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>\n<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>\n<p>Derivative traders are also showing reduced interest. Data from <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.coinglass.com\/currencies\/ETH\/futures\" target=\"_blank\" rel=\"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.\u00a0<\/p>\n<p>Since August, Ethereum price has fallen by over 36%.<\/p>\n<h1 class=\"wp-block-heading\">Ethereum price analysis<\/h1>\n<p>On the daily chart, Ethereum price has been forming a symmetrical triangle pattern 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>\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1827\" height=\"878\" src=\"https:\/\/bitunikey.com\/news\/wp-content\/uploads\/2026\/01\/1768293956_710_Ethereum-price-forms-symmetrical-triangle-as-whales-sell-will-it.webp.webp\" alt=\"Ethereum price has formed a symmetrical triangle and an inverse cup and handle pattern on the daily chart.\" class=\"wp-image-14444444\"><figcaption class=\"wp-element-caption\">Ethereum price has formed a symmetrical triangle and an inverse cup and handle pattern on the daily chart \u2014 Jan. 13 | Source: crypto.news<\/figcaption><\/figure>\n<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>\n<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.\u00a0 Traders are likely to watch this area as a key support level.<\/p>\n<p>A decisive break below that level would likely intensify selling pressure, potentially driving Ethereum down to $2,121.<\/p>\n<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>\n<p>    <!-- .cn-block-related-link --><\/p>\n<div class=\"cn-block-disclaimer\">\n<div class=\"cn-block-disclaimer__icon\">\n            <svg class=\"icon icon-info\" aria-hidden=\"true\"><use xlink:href=\"#icon-info\"><\/use> <\/svg>        <\/div>\n<p class=\"cn-block-disclaimer__content\">\n            Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.        <\/p>\n<\/p><\/div>\n<p><!-- .cn-block-disclaimer --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<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&hellip;<\/p>\n","protected":false},"author":1,"featured_media":15504,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-19704","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/19704","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=19704"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/19704\/revisions"}],"predecessor-version":[{"id":19705,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/19704\/revisions\/19705"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/15504"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=19704"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=19704"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=19704"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}