Ethereum at $2,900: bear flag puts $1,666 in play if $2,906 is lost

Ethereum trades near $2,900 after slipping below $3,000 and testing $2,700–$2,800. On January 26, 2026, Trader Tardigrade warned a bear flag breakdown would stand unless ETH reclaimed $2,906 within 1 day and 19 hours, targeting $1,666. Derivatives analyst Ted noted open interest at 5.255 million with funding slightly positive at 0.0011.