The first instance, which formed around the October and November 2025 period, saw Ethereum initially hold a support zone before breaking down. The collapse that followed measured approximately 45.03%, a selloff that wiped out a significant portion of the gains from earlier in the year. Notably, this selloff saw the ETH price fall from above $4,750 until it fell below $2,750.
The second setup came about in early 2026. Again, the ETH price appeared to find footing at a support level in early January, but that support eventually gave way during the second half of the month. This eventually led to a decline that looked like the first episode in magnitude, with the ETH price falling below $1,850 in the first week of February 2026.
The Line In The SandThe chart annotations point to drops of roughly 45% to 48% after similar setups, and applying that range to the current structure projects Ethereum’s next major zone around $1,200.
