ETH bleeding at $2,332 with week-long unidirectional sell pressure intensifying post-CPI. Price opened $2,370, spiked $2,425, collapsed to $2,250 with zero meaningful recovery—clean distribution pattern. Trading 3% down on week, unable to reclaim critical $2,367 resistance (50/200 MA convergence) all month. RSI 29.61 oversold but no capitulation volume spike to signal reversal—just slow bleed. MACD negative, momentum bearish. Currently testing $2,300 support with 4 hours to close; losing this level opens $2,211 (50 EMA) then $2,100. Macro toxic: hot CPI repricing Fed cuts, dollar strength, yield spike. BTC absorbed 1.2% while ETH took 3x impact—relative weakness screaming. Fear index dropped 50 to 42 in 24h. Yes, whales bought 140K ETH early May and ETFs saw $356M inflows, but Ethereum Foundation just dumped 21,271 ETH back into circulation via Lido unstake—supply hitting fragile bid. No session control by buyers in 7 days. Structure broken, momentum dead, macro hostile. 78% DOWN—invalid if sudden whale bid wall materializes at $2,300.
