ETH is on the thin ice

ETHUSD Short Setup – Bearish Breakout Potential

📉 Technical Setup:
Ethereum is forming a narrowing structure, and a downside breakout of the trendline could trigger an acceleration towards $2400 and lower.

📊 Daily Structure:

ETH remains in a strong downtrend with notable bearish momentum.
Significant acceleration is observed below the 20-50 MA zone, which serves as a value area.
📈 Sentiment & Market Context:

A massive short position has been built on CME ETH futures, indicating either hedging or expectations of upcoming volatility.
This creates a fragile situation for ETHUSD, which could lead to a sharp move downward unless unexpected positive catalysts emerge in the crypto market.
⚠️ Key Levels to Watch:

Trendline breakdown confirmation
$2400 support zone
Potential for further downside

Let’s see how it plays out! 🔍

Don't forget to do your own research and manage your risk at all times!