$ETH Technical Breakdown โ€“ The Charts Scream โ€œSellโ€ ๐Ÿ“‰

๐Ÿ“‰ Fibonacci Collapse: ETH dropped below the 23.6% Fib level at $4,577 โ€” a key psychological and technical support.


๐Ÿ“‰ MACD Bearish Crossover: MACD line (198.39) crossed under signal line (229.19), with a negative histogram of -30.8 โ€” strong confirmation of downward momentum.


๐Ÿ“‰ RSI Cooling Down: RSI14 sits at 55.82, slipping from overbought territory (>60), signaling weakening bullish strength.

๐Ÿง  What It Means:


Algorithmic traders caught the signal early. The break below Fib support triggered automated sell orders, fueling a cascade of downward pressure. This isnโ€™t just fear โ€” itโ€™s code-driven capitulation. ๐Ÿค–

๐Ÿ‘€ What to Watch:

A daily close below $4,300 could open the door to retest the 38.2% Fib level at $4,344.Will the 30-day SMA ($4,203.89) hold as a safety net? If not, brace for sub-$4,200 action. ๐Ÿ›‘