ETH's Death Triangle Emerges: Institutional Selling Triggers a Chain Reaction of Liquidation Crisis

Market Overview

At this moment, the ETH/USDT quote is 0.3932, and the 1-hour chart has formed a textbook-level Death Triangle: the MA7 (0.3926) crosses below the MA30 (0.39265) to create a death cross. The price has broken through the mid-band of the Bollinger Bands and is approaching the lower band at 0.3850.

On-chain data shows that institutions have piled up over 100,000 ETH sell orders at the critical level of 0.40, while the open interest has surged against the trend to 62.69 million USDT—a typical institutional "squeeze the longs while nurturing the shorts" scenario.

Technical Analysis

The MACD double lines have continued to widen below the zero axis after a death cross, and the green histogram energy shows no signs of weakening. Although the RSI (14) has reached the 28 oversold zone, there is no bottom divergence structure.

Pay attention to the 4-hour level: the EMA5/10/20 moving averages are showing a waterfall-like bearish divergence. This morning at 9:00, the price broke down through the support of the upward trend line with increased volume, and the daily MACD is about to cross below the zero axis, indicating a strong medium-term bearish signal.

Trading Strategy

Key support is at 0.3932 (the 7-day moving average center). If this level breaks, the lower support at 0.3850 will face a test from $350 million in futures liquidation orders. The overhead resistance zone is at 0.40-0.405, where the institutional sell wall is as high as 126,000 ETH.

It is recommended that holders hedge their risks at the current price and avoid blindly bottom-fishing—currently, the Delta value of -0.78 indicates that market makers are still increasing their short positions, and signs of "longs liquidating longs" have appeared in the derivatives market.

Feeling confused? Can't find a way out? Leave a comment to get support from a top team ##Strategy增持比特币