$ETH ⚠️ Ethereum (ETH) Shows Bearish M Pattern 😬 | Potential Correction Brewing 📉💣

Ethereum is flashing bearish signals as a clear M pattern (double-top formation) emerges on the charts ⚠️📊. After testing strong resistance twice and failing to break higher, ETH now faces a potential trend reversal that could trigger short-term downside pressure 💀💥.

Technically, the setup looks concerning — the RSI is flattening near the neutral zone after cooling off from overbought territory 🎯📉. Meanwhile, the MACD has flipped into a bearish crossover, suggesting weakening bullish momentum and growing sell-side strength ⏳⚡. Recent volume spikes during the rejection phase also confirm that sellers are becoming more active while buy volume is declining 🔻📉.

On-chain data adds more fuel to the bearish outlook 🔍🐋. Exchange balances are rising, meaning more ETH is being sent to exchanges — a classic sign of whale distribution and potential profit-taking 🏦📦. At the same time, wallet growth is slowing, signaling that new retail participants are becoming hesitant amid growing market uncertainty 😨🧊.

Across social sentiment channels, enthusiasm has cooled noticeably ❄️💬. The once-hot narrative around Ethereum’s scalability and staking yields is being overshadowed by traders discussing support retests and sell pressure increasing 🧱📉. Confidence among short-term holders appears shaky, as the community braces for possible correction zones.

If ETH breaks below the neckline of this M pattern, it could confirm a bearish continuation — leading to increased volatility and potential dips toward key supports 🚨🩸. Traders are urged to stay cautious, set stop losses, and manage risk wisely, as fakeouts and short squeezes remain common in volatile setups ⚖️🔥.

Despite short-term bearish patterns, Ethereum’s long-term fundamentals remain strong — but for now, technicals suggest the bulls are losing their grip 🐂➡️🐻.