Ethereum Nears Pennant Breakdown With Bears Eyeing $1,136 Downside Target

Key Insights:

• Ethereum trades near bearish pennant support as analysts set a $1,136 downside breakdown target.
• Over 50% of Ethereum’s total supply is now locked in the proof-of-stake contract.
• Long-term holders increase ETH accumulation despite price decline and broader crypto market weakness.

Ethereum is trading near a key support level as technical pressure builds. Market analysts report that ETH is close to a bearish pennant breakdown, with a downside target of $1,136.

Ethereum Nears Pennant Breakdown on 3-Day Chart

Ethereum closed its last three-day candle within a bearish pennant pattern. The new candle is now sitting just above the support line. Market participants are watching this level for confirmation of a breakdown.

Trader Tardigrade stated that the “Bearish Pennant breakdown is on the EDGE”. The analyst added that the breakdown target stands at $1,136. The pattern was formed after a prior downward move, and traders often view it as a continuation setup.

The current Ethereum price is at $1,967.57, with the asset decrease of 1.21% over the past 24 hours. Trading volume reached $21.11 billion during the same period. Price remains above the projected target, yet pressure continues near support.

Ethereum 50% Supply Now Staked as Structural Strength Builds

Meanwhile, On-chain data shows a major supply milestone for the token. According to Santiment, more than 50% of Ethereum’s total supply is now locked in the proof-of-stake contract. This marks the first time this level has been reached in its 11-year history.

The increase in staking reduces the liquid supply on exchanges. Lower liquid supply can affect short-term price movement. Long-term holders have also increased their accumulation during the recent decline. 

Data shared by CryptoRank.io shows steady growth in long-term positions. This trend has continued despite broader market weakness.

CryptoRank.io highlighted that Structural Strength Builds for ETH despite market weakness. The report noted rising accumulation by long-term holders. It also cited active technical development across the Ethereum network.

The platform added that growth in decentralized finance and rising institutional adoption support the network. More than half of the total ETH supply remains staked. This reduces available tokens for trading.

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Ethereum

Olivia Stephanie

18 February 2026, 17:06:13 GMT +0000

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