\n<\/p>\n
\n\t\t\t\t\t\t\t\t\tEthereum falls to $2.8K as traders watch a key wave pattern and support zone, with $9K potential if the structure plays out again.\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n
Ethereum is trading at around $2,850 at the time of writing. Over the past 24 hours, the asset is up 1%. Over the last 7 days, though, it has lost 10%. Trading volume has reached $23.8 billion in the past day.<\/p>\n
Analyst Merlijn The Trader has pointed to a recurring price structure on Ethereum\u2019s 2-week chart. The setup follows a sequence of three moves. The first is an impulsive rally. The second is a corrective drop. The third, often the largest, is a breakout leg. According to the chart, Ethereum is now in the second stage.<\/p>\n
\nETHEREUM: THE PERFECT WAVE SETUP<\/p>\n
Wave 1: Ignition
Wave 2: Correction (now)
Wave 3: Expansion (next)<\/p>\nThis structure played out 3x before.
And each time, $ETH<\/a> pumped.<\/p>\nYou know what to do in the discount zone. pic.twitter.com\/GSDsX3RxJ4<\/a><\/p>\n
\u2014 Merlijn The Trader (@MerlijnTrader) November 23, 2025<\/a><\/p>\n<\/blockquote>\n
Remarkably, this structure has formed three times since 2022. Each cycle moved inside an ascending channel. The current decline from $4,950 to the $2,600\u2013$2,800 zone mirrors past corrections.<\/p>\n
Interestingly, this area is marked as a \u201cdiscount zone<\/em>\u201d on the chart. The support trendline from previous lows remains in place. If the pattern continues, Ethereum could reach $9,000 in the next move.<\/p>\n
Traders Watch Support and Reversal Zones<\/h2>\n
Lennaert Snyder noted that Ethereum failed to stay above $2,880, writing, \u201cOur short scenario got triggered.\u201d For long trades, he is watching the $2,680 level and a possible sweep of $2,620. He also pointed to a daily demand zone at $2,570. These are areas where reversal trades may form.<\/p>\n
As CryptoPotato<\/em> reported<\/a>, the $2,872 level aligns with realized price data. This level \u201cresembles a classic bottom<\/em>\u201d based on on-chain behavior. Previous cycle lows also bounced near these conditions.<\/p>\n
You may also like:<\/h3>\n
Meanwhile, this area also matches<\/a> realized price data from multiple wallet groups. That adds strength to this support level if it holds.<\/p>\n
ETH\/BTC Ratio Near Buy Zone<\/h2>\n
Ethereum\u2019s performance against Bitcoin is also being watched. Analyst Micha\u00ebl van de Poppe noted<\/a> the ETH\/BTC pair is trading at 0.0325. This level has acted as a base before. In the last bounce from this zone, the pair gained over 140%.<\/p>\n
<\/a> Source: Micha\u00ebl van de Poppe\/X<\/figcaption><\/figure>\n Van de Poppe said,<\/p>\n
\n\u201cIf ETH finds support here, it could outperform BTC. If not, the entire market may move lower.\u201d<\/p>\n<\/blockquote>\n
The pair has been consolidating in this range for several days. A bounce could set up a trend reversal.<\/p>\n
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![<\/a>Source: Micha\u00ebl van de Poppe\/X<\/figcaption><\/figure>\nVan de Poppe said,<\/p>\n\n\u201cIf ETH finds support here, it could outperform BTC. If not, the entire market may move lower.\u201d<\/p>\n<\/blockquote>\nThe pair has been consolidating in this range for several days. A bounce could set up a trend reversal.<\/p>\n\nSPECIAL OFFER (Exclusive)<\/span><\/center>\nSECRET PARTNERSHIP BONUS for CryptoPotato readers: Use this link<\/a> to register and unlock $1,500 in exclusive BingX Exchange rewards (limited time offer).<\/b><\/div>\n<\/div>\n<\/p><\/div>\n](\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/11\/G6gZ76CW4AAA2xR.png\"){kind=link}