3 hours ago
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Key Takeaways:
- ETH at $2,358, rejected twice near $2,400 zone.
- Price compressing between MA cluster and $2,400 rejection zone.
- Realized price near $2,330: breakeven sellers active.
- ETF flows turned negative: -$82.47M week ending May 1.
- March spike to $2,450 failed: supply overhang intact.
- RSI at 57: momentum weakening near highs.
- Breakout requires daily close above $2,400 with volume.
The Same Zone Has Rejected ETH Twice
Ethereum is trading at $2,358 on May 4. It is not approaching $2,400 for the first time. It has been here before and failed.
In mid-March, ETH spiked to $2,450 and was rejected. The move collapsed back toward $2,000 over the following weeks. In mid-April, ETH recovered again to the $2,440 area before pulling back to the current range. Couple of separate attempts at the same zone. Couple of failures. The $2,380 to $2,400 range is not an unte...
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