$ETH USDT Perp: Weakness Following Structure
Ethereum is mirroring Bitcoin's weakness but is showing slightly more structural fragility. Trading at 2002.99, it has broken down from a key support level. The chart clearly shows a breakdown from the 2,080.02 support zone, and the price is now drifting towards the middle Bollinger Band (MB: 2,092.14), which is now acting as resistance from below. The RSI(6) at 29.26 is right on the cusp of oversold, signaling potential for a short-term bounce but not a strong reversal yet. The MACD is bearish with a downward-sloping DIF and a negative histogram, confirming the recent selling pressure. Volume is relatively light compared to the moving averages, which suggests a lack of aggressive buyers stepping in to catch the falling knife. The next major support is the lower Bollinger Band (DN: 1,957.02). The trade here is likely a short continuation or a range scalp. A short entry could be considered on a retest of the broken support at 2,080.02 as new resistance. A long would be highly speculative, only if the price holds above 1,966.20 and shows a bullish reversal pattern with increasing volume.
