BIT: Ethereum breaks below key support level, bear flag pattern reappears, triggering downward caution

CycleProphet · 2026-03-30T03:51:15+00:00

Ethereum has currently fallen below the technical support level, forming a bear flag pattern, with the price around $2004. Market trading volume remains sluggish, ETFs continue to experience net outflows, the new DeFi cycle has not started, on-chain activity remains weak, liquidity improvement is unstable, and there is a need to be cautious of the risk of a rebound or pullback.

CycleProphet

2026-03-30 03:51:15

Abstract generation in progress

Deep Tide TechFlow message, March 30, according to independent analyst Markus Thielen, Ethereum has broken below a key technical support level and is currently showing a bear flag pattern; the price has touched the area around $2004. This pattern is highly similar to the price action in January this year, when the price subsequently saw a clear pullback, so investors should be cautious that this pattern may confirm again.

On the funding front, trading volumes in the market have remained lackluster, with insufficient participation interest. Ethereum ETFs have continued to see net outflows since last September, and there has been no recent improvement. On the fundamentals side, the new DeFi cycle has not yet started, and there are no clear signs of a rebound in on-chain activity. In recent days, USDC minting has clearly slowed and turned into net outflows. Liquidity improvement within the ecosystem is still not solid, and structural demand support remains limited.

ETH3.19%

USDC0.01%

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