The floppening? Ethereum price weakens post-Merge, risking 55% drop against Bitcoin

‘s native token Ether (ETH) has been forming an inverse-cup-and-handle pattern since May 2021 on the weekly chart, which hints at a potential decline against (BTC).

weekly price chart featuring inverse cup-and-handle breakdown setup. Source: TradingView

An inverse cup-and-handle is a bearish reversal pattern, accompanied by lower trading volume. It typically resolves after the price breaks below its support level, followed by a fall toward the level at a length equal to the maximum height between the cup’s peak and the support line.

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cup-and-handle pattern. Source: StockCharts.com
ETH/BTC weekly price chart featuring cup-and-handle breakout setup. Source: TradingView