ETH sitting at $2,107-$2,138 with three consecutive weekly losses, testing critical $2,080-$2,100 support—each touch of this floor degrades structural integrity. Daily momentum screaming Strong Sell across MA confluence, breakdown from ascending trendline confirmed, resistance rejection at $2,320-$2,330 remains firm. Extreme Fear at 25 typically triggers reversals BUT recovery volume anemic compared to selloff distribution—classic dead-cat setup. Recent $657M liquidation cascade (89% longs) cleared leverage but no follow-through demand materialized. Price action mirrors Q1 2023 where similar Fear levels preceded further 18% drawdowns before base formation. ETH/BTC ratio at 0.0288 showing relative weakness against majors. 75% NO — invalid if BTC suddenly reclaims $98K with conviction.
ETH sitting at $2,107-$2,138 with three consecutive weekly losses, testing critical $2,080-$2,100 support—each touch of this floor degrades structural integrity. Daily momentum screaming Strong Sell across MA confluence, breakdown from ascending trendline confirmed, resistance rejection at $2,320-$2,330 remains firm. Extreme Fear at 25 typically triggers reversals BUT recovery volume anemic compared to selloff distribution—classic dead-cat setup. Recent $657M liquidation cascade (89% longs) cleared leverage but no follow-through demand materialized. Price action mirrors Q1 2023 where similar Fear levels preceded further 18% drawdowns before base formation. ETH/BTC ratio at 0.0288 showing relative weakness against majors. 75% NO — invalid if BTC suddenly reclaims $98K with conviction.
