Technical analysis by The_Alchemist_Trader_ about Symbol ETH: Sell recommendation (11/21/2025)

Ethereum’s price action is weakening as downside pressure accelerates. ETH has broken through several major support levels and is now trading below the $3,500 zone, which has flipped into a high-time-frame resistance area. This region also aligns with the 200-day moving average, adding to the bearish confluence. The correction has pushed price toward the $2,600 area, where an oversold bounce may occur. However, any rebound from this level would likely form a lower high within the broader downtrend, as Ethereum continues to print consecutive lower lows. From a structural perspective, the key downside target remains the $2,100 range low, which serves as the next major support zone. With ETH now finding acceptance within a lower trading range, the probability of price rotating toward this level has increased. While a short-term bounce is possible, market structure currently favors continued bearish movement unless Ethereum can reclaim former support levels with strong momentum.