This is the reason why the Ethereum bears are targeting the $1.8K ETH price.
Ether (ETH) price has posted a “bear pennant” on the daily chart, a technical chart formation with strong downward momentum. Could a weak technical setup and locked-in total price decline signal a continuation of ETH's correction towards $1,800?
Main Receptors:
Ether is forming a bearish pen on the daily chart, with a possible breakdown around $1,800. If the total value of Ethereum continues to be locked, it could see further losses.
Ether covers the eye, ETH price “drops” to 1,800 dollars.
Ether's 13% drop above a multi-month high of $2,400 broke a key trend line that has supported the price since early February.
“Will ETH Drop Hard Soon?” chain brain he said. In a video posted on X, he suggests where ETH/USD could move after falling below the high line.
“This is a critical time for ETH,” Chainmind said, adding that the price needed to return to the support level, otherwise a decline to below $1,800 was in the cards.
ETH daily chart. Source: X/Chain Mind
Meanwhile, the price of ETH has formed a bearish pennant chart pattern on the daily chart as shown below.
A bear pennant pattern is a bear setup that occurs after the price consolidates in two contiguous lines following a major decline.
ETH/USD Daily Chart. Source: Cointelegraph/Trading view
When the price breaks below the lower trend line at $2,060, it paves the way for a drop that is equal to the previous high. This puts the low of ETH/US$ at $1,800, a 14% decrease from the current price.
Crypto analyst Alex Marzel he said. If the price of Ether falls below $2,050, it increases the possibility of moving to the next support zone at $1,800.
Source: Alex Marzel
According to Cointelegraph reportedif key support levels are not held, Ether's fall may continue towards $1,750 in the short term.
Ethereum Total Value Locked 55%
Ether's bearish technical view overlaps with many other headwinds, such as the recent The Ethereum Foundation will risedampening social media sentiment and reducing the Total Value Locked (TVL) in the DeFi protocols.
Ethereum's market cap is now down to $116 billion, with levels last seen in April 2025. For comparison, the network's TVL reached an all-time high of $258 billion on August 14, 2025.
Therefore, TVL is reduced by more than half, representing a reduction of 55%.
The total value of Ethereum is locked. Source: Defillama
Negative TVL growth is more pronounced in the Ethereum Layer-2 (L2) network, which is driven by Ether.fi The total value has decreased by 32% in the last 30 days.
On Ethereum L2 Sector Cryptorank “There is a further decline of TVL. he said. In his telegram note on Monday.
The most favorable corrections were seen in Arbitrum (-63%), zkSync (-64%) and Linea (-98%), “suggesting high liquidity sensitivity to incentive programs and short-term reward mechanics,” the crypto analytics platform said.
“This reinforces the broader picture of capital allocation in the Ethereum blockchain ecosystem and weakens the ‘combined pool of liquidity' effect that early L2 development models envisioned.
Layer-2 networks: TVL reduced from October 2025. Source: CryptoRank
A decline in TVL signals weakening onchain demand, adding downward pressure on ETH and increasing Risk of further depreciation In the near future.
