Is Ethereum Facing a 'Death Trap'? A Break Below Could Lead to a Bloodbath

Ethereum's recent trend has turned clear, plummeting from 2738 to 2323, and last night's rebound was quickly digested. Currently, a typical 'dead cat bounce' is appearing on an hourly level; if it cannot strongly break through 2700, a short-term correction may hit again.

Key level above 2620:

If it stabilizes and the trading volume is healthy, a small position can be entered, targeting 2680, with a stop-loss set below 2600.

If it cannot break through 2620 and the MACD forms a death cross, one should quickly reduce positions or exit.

Once a correction begins, support may fall in the 2550-2511 range; if it breaks below MA99 (around 2501), it’s essential to liquidate and stop-loss.

In this wave of market movement, if it cannot hold, one can only acknowledge defeat. Actions must be decisive, with no middle ground.