ETH Technical Outlook: The Orange Roadmap Pattern Holds Ground

Ethereum's technical structure remains intact, with critical support anchored at $3,040. This level serves as a crucial decision point for the mid-term direction.

If price breaks below $3,040, it would likely form a triangle pattern within wave-iv (white), suggesting consolidation before the next directional move. However, the situation becomes more bearish if ETH slides below $2,772—that would signal a commitment to downside momentum and potentially rule out triangle formation, opening the door to a more aggressive sell-off.

Traders should monitor these levels closely as they'll dictate whether ETH consolidates or accelerates lower.