ETH Technical Outlook: Breakdown From Range Support, Entering Deep Retracement Zone
ETH has been rejected from the $4,345–$4,950 macro supply zone (0.786–1 Fib) and remains in a broader corrective structure after the distribution top. Since then, price has respected a descending / corrective channel, producing lower highs and weak bounces.
Recent price action shows ETH losing the $2,785–$2,630 support area and flushing into the $2,100–$2,300 macro demand base, where buyers are now attempting to slow downside momentum. However, structure remains bearish.
EMA Structure (Bearish Bias, No Trend Re