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This week saw some recovery for Ethereum and the wider digital asset sector during its first three days, but Thursday has brought with it a shift as the market as a whole has retraced.
Ethereum had managed to recover above $2,150, but following this decline, its price is back near $2,000.
In terms of the 24-hour percentage change, the ETH price has seen returns of nearly -5%, worse than Bitcoin’s 3% drop, but better than the losses that some of the altcoins have witnessed.
Derivatives markets data may have already foreshadowed this volatility.
As highlighted by CryptoQuant community analyst Maartunn in an X post yesterday, Ethereum saw a sharp surge in its Open Interest alongside the recovery rally. The “Open Interest” here refers to an indicator that measures the total amount of derivatives market positions related to ETH that are currently open on all centralized exchanges.
When the value of the indicator rises, it means investors are opening up fresh positions related to the cryptocurrency. Generally, the total leverage in the market goes up when new positions appear, so an increase in the Open Interest can lead to more volatility for the asset’s price.
On the other hand, the metric going down implies investors are either closing positions of their own volition or getting forcibly liquidated by their platform. In either case, the market can become more stable due to the leverage washout.
Below is the chart for the 24-hour change in the Ethereum Open Interest that Maartunn had shared on Wednesday.
As displayed in the graph, the Ethereum Open Interest rose by 7.1% as the price surge occurred, implying that new positions appeared to ride the wave. In the chart, the analyst also highlighted past instances of the metric going up sharply. It would appear that many of these coincided with local tops in the asset. “This setup plays out ~75% of the time,” noted Maartunn.
Given this pattern, it may not be surprising that Ethereum opened Thursday with a price plunge. The drawdown has meant that the investors who jumped in to bet on a further bullish outcome have been flushed out. In total, ETH has seen liquidations of more than $94 million over the past day, according to data from CoinGlass.

From the heatmap, it’s apparent that Ethereum’s liquidations have been the largest in the cryptocurrency sector, with Bitcoin ranking second this time around with $83.8 million in contracts involved.
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In the course of the last few months, the Ethereum price has seen a lot of decline, struggling alongside Bitcoin as investors rush to offload their coins. These sell-offs have come in anticipation of lower price levels, and with the price continuing to dip further, it seems the investors who sold earlier were right. Even now, analysts continue to predict that the market decline will continue, with the likes of Ethereum expected to suffer major retracement before a bottom is established.
In an analysis shared on the TradingView website, crypto analyst Melikatrader outlined that the Ethereum price could be seeing another major crash soon. So far, the digital asset has seen its price consolidation in what appears to be a large symmetrical triangle pattern. This comes while the price continues to chop below $2,000.
Mainly, most of the action has happened as the Ethereum price has struggled around the $1,977 level, which the analyst explains that the lack of upward momentum at this level could mean that bears have now officially taken full control of the altcoin’s price.
Taking the technical action into account, the crypto analyst explains that the Ethereum price is now nearing the apex of a triangle pattern. This comes after the price had been tightly packed between two major converging trend lines. At this point, the Ethereum price would need to make a major move to confirm the next direction.

Nevertheless, the expected move for Ethereum at this level is expected to be bearish. Essentially, the crypto analyst tells traders to wait for a breakdown to follow and for the price to fall below the lower support line of the triangle. For context, this support line lies at $1,912, making it the level to beat for bears.
Once this level is triggered, though, then the next move is for the Ethereum price to fall further. Expectation remains that a break of the lower trendline would lead to a retest of the lower trendline that marks resistance. This trendline is at $1,781, making it the final target of the triangle breakdown. “Keep a close eye on the lower boundary. If that support snaps, we likely see a swift move toward the $1,780 level. Stay patient and wait for the confirmation,” the analyst said in closing.
Featured image from Dall.E, chart from TradingView.com
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A crypto analyst has identified a recurring chart pattern centered on a 173-day cycle that previously preceded a major price expansion for XRP. Based on this pattern, the expert suggests that XRP may be approaching a similar price rally if the trend plays out as expected.
A crypto analyst who goes by ‘Bird’ on X has drawn attention to a recurring pattern on XRP’s daily chart. His analysis compares XRP’s current price formation with the pattern that preceded the 2025 breakout, highlighting a nearly identical time cycle and chart structure.
On the left side of the chart, Bird noted that it took about 173 days for XRP to break after reaching its first major top in 2025. This period is clearly marked by vertical blue lines on the chart and shows price moving within a descending wedge pattern. Notably, each price rally was lower than the previous one, while support levels remained relatively stable. Trading volume during that phase also hovered around $1.8 billion, suggesting that the breakout developed under steady market participation rather than thin liquidity.

On the right side of the chart, which shows XRP’s price action in the current market cycle, Bird points to a similar pattern forming. Since the July 2025 peak, XRP has spent about 173 days moving sideways within a descending wedge. Compared to the past cycle, trading volume has been much lower, averaging around $1 billion. However, the pattern’s shape and timing closely match past trends.
Bird notes that XRP has not broken down despite months of severe downward pressure. Instead of falling below key support levels, the price has been squeezed into a tighter range within the same descending wedge pattern. It also held near the $1.94 level as it approached the tip of the wedge. The analyst stated that this move shows the market is not moving sideways at random but is entering a late-stage compression before a larger upward move.
If historical trends hold, Bird has predicted that XRP could surge to between $4 and $4.5. With the cryptocurrency currently trading around $1.87, this would represent a surge of more than 113%.
Despite XRP’s recent crash below $1.9, analysts still believe its price could recover and launch a strong rally. A recent analysis by market expert Steph is Crypto reflects this optimistic outlook.
In his post on X, Steph is Crypto predicted that XRP could be on the verge of a price explosion similar to the one in 2017. At the time, the cryptocurrency recorded a powerful rally, jumping from around $0.005 to more than $0.25. If this same trend repeats, the analyst forecasts a breakout from around $2 to above $22.
Featured image from Freepik, chart from Tradingview.com
As the Bitcoin price has staged a rebound coming out of the weekend, the momentum has begun to skew bullish again, and expectations remain that the price will wax higher from here. Some predictions have placed the digital asset’s price lower. However, there are some who expect this to be the start of the next upward wave for Bitcoin. One of those is crypto analyst Arman Shabann, who shared an analysis of the Bitcoin price that seems to be playing out quite well.
In the analysis, Arman explained the current Bitcoin price trajectory as being bullish, especially with the formation of a clear ascending channel. The digital asset had been moving within this ascending channel, and this is seen in the recent upward push that the Bitcoin price went on.
So far, the cryptocurrency looks to be moving according to plan, after bouncing off support between $108,000 and $109,000. After this bounce, the analyst believes that the Dogecoin price has now entered what is known as a natural correction phase.
At this level, the Bitcoin price is still trending along the midline, and this is where the next move could be determined. Now, there is still the possibility that the price continues to trend down and retests the support area just above the $105,000 region, as shown in the chart.

However, in this case, the Bitcoin price would be preparing for another bounce if this level holds. Additionally, the analyst points out that this would be an ideal entry point if the price were to actually reach this level, given that it’s expected to actually rebound from this point.
For the bullish scenario, the Bitcoin price does need to hold the upper boundary of the channel to continue its uptrend. Once bulls take control, then the price is likely to continue upward, with the analyst predicting an over 30% move. Such a move would put the Bitcoin price as high as $156,000 before the rally is over.
On the other hand, the bears still have the opportunity to actually reclaim control of the digital asset from here. This lies in breaking below the support level and shifting the momentum back into the negative territory. If the support at $105,000 does break, then the next possible target is the dynamic support just above the $100,000 area.
Featured image from Dall.E, chart from TradingView.com