$ETH | Ethereum Approaching Breakdown Zone

Ethereum is currently trading at $2,523, maintaining a weak upward correction after a sharp sell-off from the $2,879 local high. Price action remains pressured, with no signs of reversal confirmed yet.

📉 Technical View:

On the 4H chart, ETH is forming lower highs and lower lows.

MACD is deeply bearish across all timeframes.

Moving averages (MA5 < MA10) indicate continued downward momentum.

📊 Futures & Sentiment:

Open interest is rising, while price remains flat — suggesting buildup before a move.

Long/Short ratio > 2.9 shows extreme bullish positioning, increasing the risk of a long squeeze.

Taker sell volume still outweighs buy volume.

📌 Signal Setup:

Short trigger below $2,502 — target $2,440, stop $2,531

Long only above $2,585 with volume confirmation — target $2,660

Risk of further decline remains unless ETH reclaims key levels with conviction.