Ethereum Plummets 8%: Is This the Beginning of the End? 🤯

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You know how this goes-Ethereum tries to sneak up to $3,000 like it’s still 2021, and poof-a liquidity cluster bigger than my ex’s drama sends it crashing. Who knew crypto could be more chaotic than a family Thanksgiving?

Let’s be real: ETH’s “corrective phase” is just a fancy term for “we told you it was a bad idea.” The support levels? They’re basically the market’s last hope, which is code for “good luck, you’ll need it.” Critical decision point? More like “run while you still can.”

Technical Analysis

By Shayan (probably Googling “bull vs. bear” as we speak)

The Daily Chart

Ethereum’s below those sacred moving averages? Of course it is. Why do you think your neighbor’s dog won’t stop barking at 3 a.m.? The breakdown from $3,200? That’s not a correction-it’s a cry for help. And that $2,630-$2,680 zone? Let’s call it the “Hail Mary support” because nothing else makes sense anymore.

Failed to reclaim the trendline? Classic. It’s like trying to convince a toddler to eat vegetables. Unless ETH magically teleports to $3,200+ and makes a “higher high” (whatever that means), this rally’s just a dead cat bounce. And if it breaks below? Buckle up-we’re heading to $2,110-$2,200, where the ghosts of 2020 HODLers haunt every trade.

The 4-Hour Chart

Ethereum hit $3,030-$3,080 like it was a buffet, only to get kicked out for trying to steal the cake. The 4H order block? A bear trap dressed as a party. Sellers are still winning, just like they did since November. It’s like crypto’s version of Groundhog Day, but with more FOMO and less Phil.

That micro ascending channel? A red herring. Buyers are about as proactive as a couch potato during the Super Bowl. If $2,750-$2,800 cracks, we’re staring at $2,630-$2,680, where “stronger hands” probably just mean “people who forgot to sell in 2022.” And if ETH ever wants to go back to $3,450? It’ll need a miracle and a 10% discount on leverage.

Sentiment Analysis

By Shayan (still not checking his portfolio)

The liquidation heatmap? It’s a warzone between $3,200 and $3,600. Longs are getting liquidated like they’re at a buffet and the chef’s mad. Every rally above $3,000 is just a setup for the next “liquidation train,” because why not? The market’s basically a casino where the house always wins… and the players are all drunk.

Down below? A desert of support until $2,400-$2,500. If $2,630-$2,680 breaks, it’s a freefall to the macro demand zone, where the only thing accumulating is your regret. On-chain positioning? It’s a masterclass in “buy low, cry lower.” Sellers are the kings of this castle, and their subjects? Us. Clapping. Like. Idiots.

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2025-12-01 17:12