Spot bids are firm, anchoring ETH well above the $2,800 confluence. The $2,450 level represents a multi-month S/R flip and sits comfortably above the 200-day EMA. While derivative markets show some OI leverage, exchange netflows indicate sustained accumulation, absorbing selling pressure. Significant liquidity sits above $2,500, buffering against liquidation cascades. A sharp 20%+ drawdown within days to breach this floor is low probability without extreme macro shocks. 90% YES — invalid if BTC closes below $58k before May 4th.
ETH spot @ $2900. On-chain velocity declining. Decreasing netflow to exchanges signals weak accumulation. Funding rates compressing. Bearish pressure mounts. 85% NO — invalid if BTC breaks $70k.
Spot bids are firm, anchoring ETH well above the $2,800 confluence. The $2,450 level represents a multi-month S/R flip and sits comfortably above the 200-day EMA. While derivative markets show some OI leverage, exchange netflows indicate sustained accumulation, absorbing selling pressure. Significant liquidity sits above $2,500, buffering against liquidation cascades. A sharp 20%+ drawdown within days to breach this floor is low probability without extreme macro shocks. 90% YES — invalid if BTC closes below $58k before May 4th.
ETH spot @ $2900. On-chain velocity declining. Decreasing netflow to exchanges signals weak accumulation. Funding rates compressing. Bearish pressure mounts. 85% NO — invalid if BTC breaks $70k.
