Ethereum’s story can’t go on—it’s been getting worse year by year in recent years.

In this bull market, retail investors have all run off to play around with Solana; people trading contracts have moved to Hyperliquid; and L2 is still in a half-dead state. Even Vitalik himself no longer brings up “general-purpose L2.”
The lies Ethereum used to sell were things like “DeFi is the safest, and institutions love to use it.” But now, when something goes wrong over at Aave, it directly smashes that banner, and confidence is on the verge of collapsing.
Ethereum in 2026 is even more miserable than in 2023.
AI is booming like crazy—tech stocks have real revenue, new stories, and momentum. Who’s still looking at you, Ethereum? With a 300 billion dollar pile, big bears like Tom Lee are shouting “drop” every day from the top, and underneath there’s a whole bunch of coin holders lying in DeFi, playing dead and not moving an inch—selling pressure is huge.
Looking at the technical charts is even more of a headache:
Resistance levels that haven’t been able to break for years, then it suddenly turns and heads downward.
It’s currently just wobbling around near the top of a range that has been dropping for more than half a year.
If it drops further, first look at the 2025 level of 1300 bucks—it might even return to the old lows of the 2022 bear market.
The key level is 2377 bucks; once that breaks, it’s completely over (assuming things deteriorate).
If the broader market is good, other projects will lift it up with them—at most it’ll get to around 2700/2800 bucks.
Want to turn things around? Unless Ethereum can come up with an entirely new blockbuster application, the fundamentals are basically hopeless.$ETH ‌