For the last 4 months, every time we have had a day like this, we got a nuke afterwards.

$ETH log chart explains the previous cycle top at 4.1k

When adding a few more trends, $ETH really looks bad. Wow. It lost every single support.

Only when you take these absolute wick lows on a non-log chart, we are above 1 lost uptrend. We do have this supporting liquidity zone as well between 1900-2000.

Bulls really need to step in here to safe this sinking ship.

As Weekly

BTW, ETH has really gotten a lot cheaper.
>1$ for a TX, sub $0.1 for TX on L2s.

2017/2018 you could pay up to $200 and L2s just last year were >$5 per TX.

The traffic has decreased but there have been quite a few optimizations on ETH and L2s as well as DEXs.

$ETH has also lost the 200W MA.
Historically, It has spent between 4 and 9 weeks below and then pumped above.

This would mean end of April.

Maybe we just hover around this current 1.9-2.2k range until May.
Every time it closed a weekly above the 200W MA after hovering below it, ETH pumped 60-150%

https://x.com/rovercrc/status/1898429007609331970

Bullish for eth. Bearish for LDO?

This is the most bullish thing.
Europe printing, US printing.

All we need. Everything else is noise

BTC hitting 200D MA here

A close below 83k would be the first time below the daily 200MA since Oct

Fingers crossed stocks pump tomorrow. Otherwise I stand with this

How is the hit rate on this so fucking high. ETH is just a bear coin.

Even $FET, which has been one of the most bullish coins this cycle just lost every support here.

$PEPE hitting decent support.