NoName just pointed out how Ethereum slipped into that eerie price zone where bear markets usually bottom out, with those four lower highs stacking up like shadows in a forgotten crypt. 🌑
Tracing The Downtrend’s Sinister Path 🖤
The trader keeps stacking through this dip and eyes $7000 long term, noting how the same crowd that hyped ETH at $4957 now shuns it below $2000 even though the network itself stays unchanged. That shift screams pure psychology marking the floor 🕸️. NoName shared the chart via X showing peaks at $4957, $3400, $2460 and $1950 pushing price right into the $1300 to $1900 range.
Psych Signals And Fresh Momentum 🌙
A bullish MVRV crossover against the 160-day average flashed up as noted in this post on X, often a prelude to big recoveries. Meanwhile the 30-day funding rate average on Binance hit 0.00339, its peak in six months while ETH hovered near $1920. The token trades just under $1900 now, up 12% monthly yet 62% off the $4946 high from last August.
Doubt Lingers Amid Whale Moves 🦇
CryptoQuant warns only two of five bottom metrics hit extremes and capitulation remains missing. Still whales accumulate, with one wallet grabbing 27000 ETH worth $52000000 via Galaxy Digital OTC and Arthur Hayes adding 644 ETH for a total of 3270 over eight days. Spot Ethereum ETFs pulled over $408 million this month while Kalshi prices point near $3200 by year end.
Analyst Nonzee sees one more push to $2000 or $2200 if Bitcoin hits $70000 but flags it as a potential trap before a drop to $900 to $1300, though his long horizon also lands at $7000 🔮.
Just another echo from the void by iconofsin.eth 💖
