hodler

23 Feb 2026, 06:15

$61 million bitcoin whale liquidated on HTX as sentiment back at 'extreme fear'

The position was the largest single forced closure in 24 hours as bitcoin shed weekend gains and the fear index returned to historic lows.

23 Feb 2026, 06:15

Celo Price Prediction 2026-2030: The Strategic Guide to Accumulating CELO in the Mobile-First Era

BitcoinWorld Celo Price Prediction 2026-2030: The Strategic Guide to Accumulating CELO in the Mobile-First Era As blockchain technology increasingly integrates with everyday mobile experiences, Celo (CELO) emerges as a distinctive player with its carbon-negative, mobile-first approach. This comprehensive analysis examines Celo’s price trajectory from 2026 through 2030, exploring the fundamental drivers, technical indicators, and ecosystem developments that could influence its market position. Investors and analysts globally are monitoring Celo’s unique value proposition in the evolving cryptocurrency landscape of 2025. Celo Price Prediction 2026: Technical Foundations and Market Positioning Market analysts project Celo’s 2026 price range between $2.50 and $4.80, based on current adoption metrics and technical patterns. The Celo blockchain has demonstrated consistent growth in daily active addresses, reaching approximately 150,000 by late 2024 according to on-chain analytics platforms. Furthermore, the platform’s transition to an Ethereum Layer-2 solution through the “Celo 2.0” upgrade has significantly enhanced its interoperability and developer appeal. Technical indicators show Celo maintaining strong support levels while exhibiting volatility patterns consistent with mid-cap blockchain assets. The Relative Strength Index (RSI) analysis from multiple trading platforms suggests accumulation phases typically occur during RSI readings between 35 and 45, presenting potential entry points for long-term investors. Ecosystem Expansion and Developer Adoption Celo’s ecosystem has expanded remarkably since its 2020 mainnet launch, with over 1,000 projects now building on its mobile-optimized platform. Notably, the platform’s focus on financial inclusion has attracted significant partnerships in emerging markets. For instance, the collaboration with the United Nations Development Programme has facilitated blockchain-based aid distribution across three continents. Additionally, Celo’s carbon-negative consensus mechanism, validated by third-party environmental auditors, positions it favorably within increasingly stringent regulatory frameworks for sustainable blockchain operations. These fundamental strengths provide crucial context for evaluating Celo’s medium-term price potential. Celo Price Forecast 2027-2028: Scaling Mobile Blockchain Adoption Projections for 2027-2028 consider Celo’s technological roadmap and broader market cycles. Most analytical models suggest a price range of $4.20 to $7.50 by 2027, assuming continued adoption of its mobile-first decentralized applications. The platform’s unique telephone number-based identity system has lowered entry barriers significantly, particularly in regions with high mobile penetration but limited banking infrastructure. According to blockchain research firm Messari’s 2024 report, Celo’s transaction volume grew 300% year-over-year in markets including Southeast Asia and East Africa. This real-world utility forms the foundation for sustainable price appreciation beyond speculative trading patterns. Key factors influencing Celo’s 2027-2028 trajectory include: Mainnet upgrade completion and Ethereum compatibility enhancements Regulatory clarity in target emerging markets Partnership expansion with mobile network operators Stablecoin adoption through Celo Dollar (cUSD) and Celo Euro (cEUR) Developer grant program outcomes and dApp quality Comparative Analysis with Competing Layer-1 Platforms Celo occupies a specialized niche within the broader Layer-1 blockchain ecosystem. Unlike general-purpose platforms, Celo specifically optimizes for mobile accessibility and low transaction costs. Data from Electric Capital’s 2024 Developer Report indicates Celo maintains a consistent developer community of approximately 400 monthly active contributors. While smaller than Ethereum’s developer base, this represents significant specialization in mobile blockchain solutions. The platform’s carbon-negative operations also differentiate it environmentally from proof-of-work alternatives, potentially attracting institutional interest as environmental, social, and governance (ESG) criteria become increasingly important in cryptocurrency investment decisions. Celo Long-Term Outlook 2029-2030: The Mobile-First Blockchain Vision Long-term projections for 2029-2030 range from conservative estimates of $8.50 to optimistic scenarios exceeding $15, based on total addressable market analysis. These forecasts assume successful execution of Celo’s roadmap toward serving one billion users through mobile devices. The platform’s focus on real-world utility rather than speculative trading could create more stable long-term value appreciation. Research from the Cambridge Centre for Alternative Finance suggests mobile-based blockchain solutions could reach 3.2 billion users globally by 2030, representing Celo’s theoretical maximum market penetration. However, these projections must account for technological evolution, regulatory developments, and competitive landscape changes over the five-year horizon. Celo Price Prediction Summary 2026-2030 Year Conservative Estimate Moderate Projection Optimistic Scenario Key Drivers 2026 $2.50 $3.65 $4.80 L2 integration, developer growth 2027 $4.20 $5.85 $7.50 Mobile dApp adoption, partnerships 2028 $5.80 $7.90 $10.20 Regulatory clarity, market expansion 2029 $7.50 $10.25 $13.00 Mass adoption, network effects 2030 $8.50 $11.75 $15.50 Market leadership, technological maturity Risk Assessment and Market Variables All price predictions inherently involve uncertainty, particularly in the rapidly evolving blockchain sector. Celo faces specific risks including regulatory changes in target markets, technological competition from both traditional and blockchain-based mobile payment systems, and execution challenges in scaling its ecosystem. The platform’s success depends significantly on maintaining its carbon-negative status as environmental scrutiny increases. Additionally, broader cryptocurrency market cycles historically influence all digital assets regardless of individual fundamentals. Investors should consider these variables alongside the optimistic projections when evaluating accumulation strategies. Strategic Accumulation: Timing and Methodology Considerations Determining optimal accumulation timing requires analysis beyond simple price predictions. Dollar-cost averaging represents a statistically sound approach for long-term Celo accumulation, particularly given cryptocurrency volatility. Historical data indicates accumulation during market corrections of 30% or more from recent highs has provided favorable long-term entry points for fundamentally strong assets. Technical analysis tools including moving average convergence divergence (MACD) and Bollinger Bands can identify potential accumulation zones when combined with fundamental assessment. Furthermore, monitoring Celo’s on-chain metrics—particularly network growth, transaction volume, and developer activity—provides early indicators of ecosystem health independent of price movements. Essential accumulation strategy components include: Portfolio allocation limits (typically 1-5% for altcoins) Regular fundamental reassessment of Celo’s competitive position Secure storage solutions for long-term holdings Tax implications of accumulation and eventual disposition Exit strategy development alongside accumulation planning Conclusion Celo presents a distinctive investment thesis within the blockchain sector, combining mobile accessibility, environmental sustainability, and real-world utility. While price predictions from 2026 through 2030 suggest significant potential appreciation, these projections depend on successful execution of Celo’s mobile-first vision and broader cryptocurrency adoption. The platform’s carbon-negative operations and focus on financial inclusion provide fundamental strengths that could drive long-term value. Investors considering Celo accumulation should focus on dollar-cost averaging strategies, thorough fundamental analysis, and appropriate portfolio allocation. As blockchain technology increasingly integrates with mobile infrastructure globally, Celo’s specialized approach positions it uniquely within the evolving digital asset landscape. FAQs Q1: What makes Celo different from other blockchain platforms? Celo specifically optimizes for mobile accessibility with features like telephone number-based identity and low transaction costs. Additionally, it operates as a carbon-negative blockchain, differentiating it environmentally from many alternatives. Q2: How accurate are cryptocurrency price predictions? All price predictions involve significant uncertainty, particularly in volatile markets. Celo price predictions should serve as analytical frameworks rather than guarantees, incorporating both optimistic scenarios and risk assessments. Q3: What are the main risks of investing in Celo? Key risks include regulatory changes in target markets, technological competition, execution challenges in scaling, broader cryptocurrency market cycles, and potential environmental regulation impacts. Q4: Is dollar-cost averaging effective for Celo accumulation? Yes, dollar-cost averaging statistically reduces volatility impact for long-term cryptocurrency accumulation. This approach involves regular investments regardless of short-term price fluctuations. Q5: How can I evaluate Celo’s fundamental health beyond price? Monitor on-chain metrics including daily active addresses, transaction volume, developer activity, partnership announcements, and network upgrade implementations through blockchain explorers and ecosystem reports. This post Celo Price Prediction 2026-2030: The Strategic Guide to Accumulating CELO in the Mobile-First Era first appeared on BitcoinWorld .

23 Feb 2026, 06:10

BTC Perpetual Futures Reveal Critical Long/Short Ratios: Market Sentiment Hangs in Precarious Balance

BitcoinWorld BTC Perpetual Futures Reveal Critical Long/Short Ratios: Market Sentiment Hangs in Precarious Balance As Bitcoin continues to dominate cryptocurrency markets in 2025, traders worldwide scrutinize perpetual futures data for crucial sentiment indicators. Recent analysis of BTC perpetual futures long/short ratios across the three largest exchanges by open interest reveals a market in delicate equilibrium. Specifically, the 24-hour data shows traders maintaining cautious positions with slight bearish leanings across major platforms. This comprehensive examination provides essential context for understanding current market dynamics and potential future movements. Understanding BTC Perpetual Futures Long/Short Ratios Perpetual futures represent sophisticated financial instruments that enable traders to speculate on Bitcoin’s price movements without expiration dates. These contracts maintain their positions through funding rate mechanisms that balance long and short interests. The long/short ratio specifically measures the percentage of traders holding bullish versus bearish positions across exchange platforms. Market analysts consider this metric particularly valuable because it reflects real-time sentiment among leveraged traders who often influence short-term price movements. Consequently, institutional and retail investors alike monitor these ratios for directional clues about market psychology. Exchange platforms calculate these ratios using aggregated position data from all traders on their systems. The methodology typically involves analyzing open interest across perpetual futures contracts to determine whether more traders have positioned themselves for price increases or decreases. Importantly, these ratios don’t measure the size of positions but rather the number of traders holding specific directional views. This distinction becomes crucial when interpreting market sentiment, as a few large traders can sometimes skew overall positioning despite numerical ratios appearing balanced. Current Market Positioning Across Major Exchanges The latest 24-hour data from March 2025 reveals fascinating consistency across the cryptocurrency derivatives landscape. Overall market positioning shows 48.5% of traders holding long positions against 51.5% maintaining short exposure. This slight bearish tilt suggests cautious sentiment despite Bitcoin’s established position in global financial markets. Individual exchange breakdowns provide deeper insights into regional and platform-specific trading behaviors that collectively shape market dynamics. BTC Perpetual Futures Long/Short Ratios (24-Hour Data) Exchange Long Percentage Short Percentage Net Sentiment Binance 48.64% 51.36% Slightly Bearish OKX 46.79% 53.21% Moderately Bearish Bybit 48.76% 51.24% Slightly Bearish Overall Average 48.5% 51.5% Slightly Bearish Binance, as the world’s largest cryptocurrency exchange by trading volume, shows nearly balanced positioning with 48.64% long versus 51.36% short. This minimal divergence indicates traders on this platform maintain neutral-to-cautious outlooks. Meanwhile, OKX demonstrates the most pronounced bearish sentiment among the three major exchanges, with only 46.79% of traders positioned long against 53.21% positioned short. Bybit’s ratios closely mirror Binance’s figures, suggesting similar trader psychology across these two major platforms. These variations, while subtle, provide valuable insights into how different trading communities perceive current market conditions. Historical Context and Market Implications Experienced market analysts compare current ratios against historical data to identify meaningful patterns. Throughout 2024 and early 2025, BTC perpetual futures long/short ratios typically fluctuated between 45% and 55% for either side during stable market periods. Extreme readings below 40% or above 60% often preceded significant price reversals as markets became overcrowded on one side. The current readings near 50% therefore suggest balanced sentiment without extreme positioning that might signal imminent reversals. Market microstructure experts note several important factors when interpreting these ratios. First, funding rates across exchanges remain relatively neutral, indicating neither longs nor shorts face excessive costs to maintain positions. Second, open interest levels have stabilized after the volatility of previous years, suggesting more mature market participation. Third, regulatory developments in major jurisdictions have created clearer frameworks for derivatives trading, potentially reducing speculative extremes. These structural improvements contribute to more measured positioning among market participants. The Role of Open Interest in Market Analysis Open interest represents the total number of outstanding derivative contracts that haven’t been settled. This metric provides crucial context for long/short ratio analysis because it indicates the total capital committed to market positions. The three exchanges examined—Binance, OKX, and Bybit—collectively represent approximately 75% of global Bitcoin futures open interest according to recent CryptoCompare data. Their dominance makes their positioning data particularly significant for understanding broader market sentiment. Several key observations emerge from analyzing open interest alongside positioning ratios: Stability indicators: Consistent open interest alongside balanced ratios suggests market equilibrium Liquidity measurements: High open interest typically correlates with better execution and tighter spreads Institutional participation: Growing open interest often signals increased professional trader involvement Market health: Sustainable open interest growth without extreme positioning indicates healthy derivatives development Current data shows open interest has gradually increased throughout early 2025 while maintaining relatively balanced long/short ratios. This pattern suggests organic market growth rather than speculative bubbles. Furthermore, the concentration of open interest across these three major platforms indicates continued centralization in cryptocurrency derivatives markets despite decentralization narratives in other sectors. Expert Perspectives on Current Positioning Derivatives specialists from major financial institutions provide valuable context for interpreting current market data. According to analysis published by Bloomberg Intelligence in February 2025, balanced long/short ratios during periods of price consolidation typically precede significant directional moves. The current positioning suggests traders await clearer catalysts before committing to stronger directional views. Meanwhile, researchers at the Cambridge Centre for Alternative Finance note that derivatives markets have matured considerably since 2023, with reduced extreme positioning during normal market conditions. Several quantitative analysts highlight the importance of monitoring ratio divergences between exchanges. When platforms show significantly different positioning, it often indicates regional sentiment variations or platform-specific factors influencing trader behavior. The current data shows remarkable consistency across exchanges, suggesting global consensus about market conditions. This alignment becomes particularly noteworthy given the geographical distribution of these platforms’ user bases across Asia, Europe, and the Americas. Trading Psychology and Market Sentiment Indicators Long/short ratios fundamentally measure trader psychology and collective market expectations. When analyzed alongside other sentiment indicators, these ratios provide multidimensional views of market conditions. The current slightly bearish positioning aligns with several complementary metrics from early 2025, including fear and greed indices and social media sentiment analysis. This convergence strengthens the reliability of the positioning data as genuine market sentiment rather than statistical noise. Market psychologists identify several behavioral patterns evident in current positioning data. First, the absence of extreme readings suggests reduced emotional trading compared to previous market cycles. Second, the consistency across exchanges indicates information efficiency and shared analysis among trading communities. Third, the slight bearish tilt during a period of relative price stability demonstrates risk awareness rather than pessimism. These psychological factors contribute to more sustainable market development compared to previous periods of excessive speculation. Historical analysis reveals important patterns in how positioning evolves around market events. Typically, long/short ratios become more extreme during strong trending periods as traders chase momentum. During consolidation phases like the current market environment, ratios tend toward balance as directional conviction weakens. The current positioning therefore aligns with expected behavior during sideways price action, suggesting normal market functioning rather than anomalous conditions. Conclusion The analysis of BTC perpetual futures long/short ratios across Binance, OKX, and Bybit reveals a cryptocurrency derivatives market in careful balance during early 2025. With overall positioning showing 48.5% long versus 51.5% short, traders maintain slightly bearish but generally cautious outlooks. Individual exchange data shows remarkable consistency, with all three major platforms displaying similar sentiment patterns. This equilibrium suggests markets await clearer fundamental or technical catalysts before establishing stronger directional bias. As Bitcoin continues evolving within global financial systems, monitoring these positioning metrics provides valuable insights into trader psychology and potential market developments. The current balanced ratios indicate healthy market conditions without excessive speculation that characterized previous cryptocurrency cycles. FAQs Q1: What do BTC perpetual futures long/short ratios measure? These ratios measure the percentage of traders holding long (bullish) versus short (bearish) positions on Bitcoin perpetual futures contracts. They provide insights into market sentiment among derivatives traders. Q2: Why are Binance, OKX, and Bybit specifically analyzed? These three exchanges represent the largest platforms by open interest for Bitcoin futures, collectively accounting for approximately 75% of global derivatives activity, making their data particularly significant. Q3: How do current ratios compare to historical extremes? Current ratios near 50% represent balanced sentiment compared to historical extremes below 40% or above 60%, which often signaled overcrowded positioning and potential reversals. Q4: What factors might cause long/short ratios to change significantly? Major price movements, regulatory announcements, macroeconomic developments, or platform-specific events can all cause rapid shifts in trader positioning and subsequent ratio changes. Q5: How should traders use long/short ratio data in their strategies? Experienced traders use this data as a contrarian indicator at extremes or as confirmation alongside other technical and fundamental analysis, never relying solely on positioning metrics for trading decisions. This post BTC Perpetual Futures Reveal Critical Long/Short Ratios: Market Sentiment Hangs in Precarious Balance first appeared on BitcoinWorld .

23 Feb 2026, 06:05

USD/INR Exchange Rate Plummets as US Supreme Court Shatters Trump’s Tariff Legacy

BitcoinWorld USD/INR Exchange Rate Plummets as US Supreme Court Shatters Trump’s Tariff Legacy The USD/INR currency pair opened significantly lower in Asian trading hours today, December 10, 2025, following a landmark decision by the United States Supreme Court that struck down former President Donald Trump’s controversial tariff policy framework. This dramatic ruling immediately weakened the US dollar against the Indian rupee as markets recalibrated expectations for future trade relations between the world’s largest and fifth-largest economies. USD/INR Exchange Rate Reacts to Historic Court Decision The Supreme Court’s 6-3 ruling declared the 2018 executive authority enabling broad presidential tariff powers unconstitutional. Consequently, the USD/INR pair dropped to 82.15 in early trading, representing a 0.8% decline from yesterday’s close. Market analysts immediately noted increased volatility as traders digested the implications. This decision fundamentally alters the legal landscape for US trade policy, potentially affecting billions in bilateral commerce. Forex trading platforms reported unusually high volume during the Asian session. The Reserve Bank of India typically monitors such movements closely. Historical data shows the rupee has been particularly sensitive to US trade policy shifts since 2018. For instance, the currency experienced similar volatility when tariffs were initially imposed. Today’s reaction reflects market anticipation of reduced trade barriers and improved export conditions for Indian manufacturers. Trump Tariff Policy Framework Overturned The Supreme Court’s decision specifically addressed Section 232 of the Trade Expansion Act of 1962. Presidents had used this provision to impose tariffs citing national security concerns. Justice Elena Kagan wrote the majority opinion, stating the law granted “excessive legislative power to the executive branch.” The ruling immediately invalidates approximately $370 billion in tariffs imposed during the Trump administration. Many of these tariffs targeted Chinese goods but had significant secondary effects on global supply chains. Legal experts note this decision establishes important precedents for presidential authority. The court emphasized that Congress must provide clearer guidelines for trade actions. This ruling may affect future administrations seeking to implement similar policies. International trade lawyers have already begun analyzing the decision’s broader implications. They suggest it could reshape how the US engages in trade negotiations worldwide. Economic Impacts on India-US Trade Relations India exported approximately $85 billion in goods and services to the US in 2024. The Trump-era tariffs particularly affected Indian steel, aluminum, and chemical exports. With these barriers potentially removed, Indian exporters anticipate improved market access. The Confederation of Indian Industry issued a statement welcoming the court’s decision. They project a 3-5% increase in exports to the US within the next fiscal year. Conversely, US exporters to India may face different competitive dynamics. The ruling could accelerate ongoing trade negotiations between the two nations. Both countries have been discussing a limited trade agreement since 2023. This development might create more favorable conditions for reaching a comprehensive deal. Trade representatives from both nations are scheduled to meet next month in New Delhi. USD/INR Movement Following Major Trade Policy Events Date Event USD/INR Change Market Context March 2018 Initial US Steel Tariffs +1.2% Rupee weakened on trade war fears June 2019 US Revokes India’s GSP Status +0.9% Preferential trade terms removed December 2025 SC Overturns Tariff Framework -0.8% Rupee strengthened on barrier reduction Currency Market Analysis and Forward Projections Forex analysts emphasize several key factors influencing the USD/INR movement. First, reduced trade barriers typically strengthen the exporting nation’s currency. Second, the decision reduces uncertainty about future US trade actions. Third, capital flows may shift toward emerging markets like India. Major financial institutions have already begun adjusting their forecasts. Goldman Sachs revised its year-end USD/INR target to 81.50 from 83.20 previously. The Reserve Bank of India faces new policy considerations. A stronger rupee could affect India’s export competitiveness. However, it also helps control imported inflation. RBI Governor Shaktikanta Das recently emphasized the central bank’s focus on stability. The institution maintains substantial foreign exchange reserves to manage excessive volatility. Market participants will closely watch upcoming RBI policy meetings for guidance. Immediate Impact: USD/INR dropped 0.8% to 82.15 Trade Volume: 40% above 30-day average during Asian session Key Resistance: 82.50 level now becomes critical technical point Support Level: 81.80 represents next major support for the pair Global Financial Market Reactions Beyond the USD/INR pair, global markets showed varied responses. Asian equities generally rose on improved trade outlooks. European futures indicated positive openings. The US dollar index (DXY) declined 0.5% against a basket of major currencies. Treasury yields edged lower as investors assessed the decision’s growth implications. Commodity markets showed particular strength in industrial metals, which often benefit from reduced trade barriers. International monetary authorities are monitoring cross-border capital flows. The International Monetary Fund recently warned about trade policy uncertainty. Today’s decision potentially reduces one major source of that uncertainty. However, new questions emerge about future US trade policy mechanisms. Congressional leaders have already announced plans to review trade legislation. This process could introduce different types of market uncertainty in coming months. Historical Context and Policy Evolution The Trump administration imposed tariffs on approximately $370 billion worth of Chinese goods starting in 2018. These actions used Section 232 authority for national security justifications. The policy expanded to include trading partners like the European Union, Canada, and India. Legal challenges began immediately but gained momentum after the 2020 election. Lower courts issued conflicting rulings before the Supreme Court agreed to hear the consolidated cases in 2024. Trade economists have extensively studied the tariff impacts. Most research indicates the policies raised costs for US consumers and businesses. They also triggered retaliatory measures from affected countries. The Peterson Institute for International Economics estimated the tariffs reduced US GDP by 0.3% annually. Today’s decision potentially reverses those economic effects over time. However, the transition period may create new market adjustments. Conclusion The USD/INR exchange rate movement following the Supreme Court’s decision reflects significant repricing of India-US trade relations. The ruling against Trump’s tariff policy framework creates new opportunities for bilateral commerce. Currency markets will continue adjusting as implementation details emerge. This development underscores how judicial decisions can rapidly affect global financial markets. The USD/INR pair will remain sensitive to further trade policy developments from both nations. FAQs Q1: How much did the USD/INR drop after the Supreme Court ruling? The USD/INR exchange rate declined 0.8% to 82.15 in early trading following the decision, representing one of the largest single-day moves related to trade policy in 2025. Q2: What specific tariff authority did the Supreme Court overturn? The court declared Section 232 of the Trade Expansion Act of 1962 unconstitutional as applied for broad tariff imposition, specifically rejecting the national security justification used for widespread trade restrictions. Q3: How might this affect Indian exports to the United States? Indian exporters anticipate improved market access, particularly for previously tariffed goods like steel, aluminum, and chemicals, with industry groups projecting 3-5% export growth to the US. Q4: Will the Reserve Bank of India intervene in currency markets? The RBI monitors all significant USD/INR movements and maintains authority to intervene if volatility threatens economic stability, though no intervention has been announced following this specific development. Q5: What happens to existing tariffs imposed under the overturned authority? The Supreme Court’s decision immediately invalidates approximately $370 billion in tariffs imposed since 2018, though implementation procedures and potential congressional responses may affect the timeline for complete removal. This post USD/INR Exchange Rate Plummets as US Supreme Court Shatters Trump’s Tariff Legacy first appeared on BitcoinWorld .

23 Feb 2026, 06:05

WIF Technical Analysis February 23, 2026: Weekly Strategy

WIF is trying to hold at $0.20 under downtrend pressure; RSI is oversold and accumulation signals are increasing with MACD divergence. While Bitcoin's bearish trend creates risk, a $0.2047 breakout...

23 Feb 2026, 06:00

Here’s The Level To Keep An Eye On If The Ethereum Triangle Breakdown Plays Out

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. Technical Patterns Show Where Ethereum Is Headed Next 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.