ETH at $2,304 after week-long bleed—no bounce, just straight liquidation from $2,370 to $2,250. 94% bearish indicator dominance screams overcrowded short-term downside momentum. Critical resistance cluster at $2,361-$2,367 (50/200 DMA convergence) rejected price all month—this is structural ceiling. Immediate risk: $2,300 weekly close failure accelerates cascade to $2,211 50-EMA, then $2,100 void. Hot CPI bled yields higher, dollar stronger—ETH absorbed 3x BTC's drop showing altcoin beta weakness in risk-off regime. Fear/Greed deteriorating 71→49 in 7 days indicates sentiment rollover incomplete. RSI 47 declining but not yet oversold means selling exhaustion hasn't hit. 4-hour window too tight for reversal setup; technicals need reclaim of $2,361 to invalidate bearish structure. Short-term flow favors continuation to downside support tests before any mean reversion attempt. 72% NO—invalid if breaks and holds above $2,360 on volume.
ETH trading $2,304, just above critical $2,300 weekly close support with clean 5-day selloff from $2,425. 50/200-MA death cross cluster at $2,361-$2,367 rejected every breakout attempt this month. 4H technicals bearish—falling 50-day MA, no buyer control. Fear index at 42, CPI-triggered macro pressure repricing Fed cuts. Recent ETH Foundation unstaking 21,271 ETH adds supply overhang. Volume spike 27% above BTC suggests distribution phase. Early-May whale accumulation already priced—weak bounce pattern since $2,250 low signals exhaustion not reversal. Next 2-4 hours favor drift toward $2,280-$2,250 retest as weekly close looms. [72]% NO — invalid if sudden whale bid reclaims $2,320.
