$ETH: The 1-week chart is an absolute disaster!Once again, I want to make it clear: I’m naturally a bull. But I live in Thailand, far from the noise of influencers shouting "buy, buy, buy!" I’ve learned my lesson—when they scream buy, you get rekt. That’s why I rely solely on the charts.
Charts are just mathematics—they don’t lie. So here’s my honest interpretation of what I’m seeing for Ethereum:
🕐 Daily Outlook
Yes, we might see a few nice bounces in the short term. But if your plan is to hold ETH, you should be paying attention to higher timeframes, especially the weekly.
📉 Weekly Chart — It's Ugly
We’re clearly in a descending wedge, and overall, ETH is bearish. Don’t be fooled by the hype or the people trying to take your money.
- RSI is bearish, with a strong bearish divergence still unfolding.
- MACD is on the verge of a bearish crossover, and what’s worse, it’s doing that without even touching the neutral zone—a major red flag.
The last time we saw this setup? November 2021. The price crashed below $1,000.
🔍 Where’s the Support?
This cycle, the support zone looks closer to $1,500, mainly due to institutional interest and the ETF narrative. A full retracement seems unlikely, but technically speaking—it’s still a possibility.
🤔 Why Is This Happening Despite Institutional FOMO?
Here’s the key: ETH has staking, and every month, new CRYPTOCAP:ETH is minted to pay stakers. This creates constant inflation. On top of that, many stakers compound their rewards, accelerating the inflation. And guess what? These same stakers are selling as soon as ETH pumps.
So fundamentally, Ethereum is under pressure because of its own staking mechanics—a system flaw that creates long-term selling pressure.
Do your own research (DYOR). I could be wrong—but at least I’m not trying to sell you a course.
