ETH Technical Outlook: Breakdown From Structure, Entering Deep Corrective Phase
ETH has been rejected from the $4,200–$4,950 macro supply zone (0.786–1 Fib) and has fully transitioned into a broader corrective structure after the cycle distribution top. Price continues to respect a descending corrective channel, printing lower highs and weak recovery attempts.
Recent price action shows ETH losing the $2,500–$2,600 support cluster (0.236 Fib) and flushing hard into the $2,120–$1,980 demand zone, with price now stabilizing near the Fib 0 base at $1,745. Overall structure remains bearish.
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