Ethereum Price Crash: ETH Risks Plunging to $600 If This Giant Pattern Breaks

Ethereum’s native token, Ether (ETH), crashed toward $1,700 on Thursday, deepening its 2026 bear-market slide as technicals flash one of the clearest make-or-break signals in years.

ETH is now down roughly 65% from its 2025 high, pressured by Ethereum Foundation FUD, geopolitical stress from the Iran war, and a broader crypto-market selloff that has crushed risk appetite across altcoins.

But the bigger concern is on the chart.

Ethereum Price Hangs Above Critical Triangle Support

Ethereum’s two-week chart shows ETH trading inside a massive symmetrical triangle pattern that has been forming for years.

A symmetrical triangle forms when price prints lower highs and higher lows, compressing between two converging trendlines. The setup usually reflects market indecision before a major breakout or breakdown.

For ETH, the upper trendline has repeatedly capped rallies since the 2021 cycle peak. Meanwhile, the lower trendline has acted as long-term support during major corrections.

Ethereum is now hovering just above that lower support.

That makes the current $1,700 area extremely important. If bulls defend the triangle floor, ETH could be forming a macro bottom after months of aggressive selling.

In that scenario, the first major upside target sits near $2,265, aligning with the 1.618 Fibonacci level shown on the chart. A stronger recovery could push ETH toward the $3,610 region, near the 2.618 Fibonacci level and closer to the triangle’s upper resistance zone.

That would mark a potential rebound of more than 100% from current levels.

ETH Breakdown Could Open the Door to $1,000, Or Worse

The bearish scenario is more severe.

A decisive close below the triangle support would invalidate Ethereum’s multi-year consolidation structure and confirm a bearish continuation setup.

In that case, ETH could first test Fibonacci support levels near $1,430, $1,142, and $915. But the full measured target from the triangle breakdown sits much lower, near $600.

That does not mean ETH will immediately crash to $600. Still, a confirmed breakdown would raise the odds of Ethereum revisiting levels last seen before the previous bull cycle accelerated.

Momentum remains weak, with the RSI trending lower and ETH still below key moving averages.

For now, bulls must defend the long-term triangle support. A successful hold could trigger a rebound toward $2,265–$3,610. A failure could put $1,000 or lower back in play.