ETH bleeding into 10AM ET with zero reclaim momentum. Price trapped at $2,304 after failing $2,367 resistance cluster all month — 50/200-day MA convergence acting as ceiling. Weekly performance down 3% with consistent sell pressure from $2,425 to current levels. RSI at 29.61 oversold but no bounce materializing — classic bear trap where oversold doesn't mean reversal in trending markets. MACD negative confirms continuation bias. Exchange flow dynamics ugly: Binance reserves spiked to 3.62M ETH (24.6% of total), highest concentration suggesting supply overhang. Sentiment collapsed from 71 (Greed) to 50 (Fear) in one week — that velocity signals capitulation phase still unfolding. Hot CPI triggered macro risk-off with ETH absorbing 3x Bitcoin's drop, meaning altcoin beta amplifying downside. Oil rising + yields climbing = dollar strength headwind. Chart structure shows one-directional bleed with no intraday reclaim attempts. $2,300 psychological support fragile; losing it opens $2,211 then $2,100. No bullish divergence, no volume spike reversal pattern. This is classic drift-lower into close on weakening conviction. 78% NO — invalid if sudden reversal above $2,320 with volume.
ETH bleeding into 10AM ET with zero reclaim momentum. Price trapped at $2,304 after failing $2,367 resistance cluster all month — 50/200-day MA convergence acting as ceiling. Weekly performance down 3% with consistent sell pressure from $2,425 to current levels. RSI at 29.61 oversold but no bounce materializing — classic bear trap where oversold doesn't mean reversal in trending markets. MACD negative confirms continuation bias. Exchange flow dynamics ugly: Binance reserves spiked to 3.62M ETH (24.6% of total), highest concentration suggesting supply overhang. Sentiment collapsed from 71 (Greed) to 50 (Fear) in one week — that velocity signals capitulation phase still unfolding. Hot CPI triggered macro risk-off with ETH absorbing 3x Bitcoin's drop, meaning altcoin beta amplifying downside. Oil rising + yields climbing = dollar strength headwind. Chart structure shows one-directional bleed with no intraday reclaim attempts. $2,300 psychological support fragile; losing it opens $2,211 then $2,100. No bullish divergence, no volume spike reversal pattern. This is classic drift-lower into close on weakening conviction. 78% NO — invalid if sudden reversal above $2,320 with volume.
