$ETH

In June 2022, Ether’s realized price fell below the spot price, preceding a 51% drop in ETH price following the Terra Luna market crash. A similar scenario was witnessed in November 2022, when the metric fell below the price before Ether dropped 35% following the FTX collapse.

Now that a similar scenario is playing out, the current setup loosely echoes those prior bearish continuation phases, with ETH price at risk of a deeper correction.