GM
$ETH $2.2k
clearly someone big got carried out.. this isn’t normal selling.
RSI is at levels you only see when something breaks. forced unwinds. not people suddenly hating ethereum.
$3k to $2.2k that fast.. didn’t happen because people changed their mind on ethereum
it happened because a large leveraged position had to go, and there wasn’t enough liquidity to absorb it.
momentum is already stretched now.
historically, when ETH sits in these zones, downside doesn’t extend much unless there’s a fresh shock
most of the damage feels done. the body already hit the floor.
from here it’s less about more downside, and more about time.