ETH trapped below $2,367 MA convergence all month, failed bounce after CPI selloff. 216k ETH Binance inflow ($511M May 6), 98k ETH ($224M May 8) signals distribution. 29 bearish vs 2 bullish indicators, RSI 47 neutral. Macro headwinds: CPI-driven DXY strength, yield spike repricing Fed cuts. 4-hour window: continuation bias down. 68% NO — invalid if sudden catalyst breaks $2,367.
ETH bleeding at $2,304 after week-long dump from $2,425, sitting right below death zone at $2,367 where 50/200-day MAs converge—this level has rejected every breakout attempt all month. Technicals screaming sell with 29 bearish vs 2 bullish indicators, RSI dead at 47 showing zero momentum. Hot CPI print crushed ETH 3x harder than BTC through yield expansion and DXY strength. 24H range $2,257-$2,306, currently at ceiling but no juice to push resistance. Fear & Greed at 42-49, not capitulation territory for bounce. Weekly close risk looms at $2,300—break below targets $2,211 support flush. No catalyst in next 5 minutes to reverse this structure. 72% DOWN — invalid if sudden macro reversal or whale bid wall appears above $2,310.
