We had beautiful trends holding in a not so beautiful environment, usually a good sign as long as it lasts.

Those trends are now showing weakness, signalling that we're getting chop at best, downside at worst.

Combined with seasonality – not the best picture for the short term, unless something changes on the macro/geo-political front.

Still some plunge protection 1D EMA's on the downside for $ETH, but this trend looks tired.