Ether's Bear Flag Signals Potential Drop to $1,230

Ether's price has formed a bear flag on the daily chart, indicating a strong downward momentum. The drop in transaction fees and market drawdown, triggered by Donald Trump's tariff threats, have caused Ether's price to plummet by nearly 50% from its high in January. Despite a rebound of 18%, Ether has struggled to break above $2,000, reflecting a decrease in network activity and transaction fees. The declining burn rate and rising supply of Ether are additional factors contributing to its performance, with the total supply surpassing pre-Merge levels. The bearish pattern on the chart suggests a potential drop towards $1,230, although some traders remain optimistic about Ether's upside potential.