ETH’s $3K Gamble: SELL or SURRENDER? 🐍📉

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Ethereum, that fickle friend of the crypto world, has taken a nosedive into the shadowy realm of the $3,000 zone. Oh, how the mighty have fallen! This area, once a bustling marketplace of hope, now whispers secrets of potential interest for the big players, but only if they dare to tread carefully. 🐍💰

Will Ethereum find its way to a relief phase, or will it plunge deeper into the abyss of macro demand levels? Only the cryptic whispers of the market can tell. 🧙‍♂️🔮

Technical Analysis

By the mysterious Shayan, who knows the secrets of the crypto realm.

The Daily Chart

Ethereum, like a weary traveler, drifts lower through a vast, descending maze, inching closer to the $3,000-$3.05K demand block. Once the springboard for the July-August rally, this area now stands as the lower boundary of a falling wedge, a pattern that usually signals a late correction rather than a new trend. 🕳️📉

The failure to reclaim the 100-day moving average near $3.8K was a blow, triggering a selloff so fierce, even the bravest investors trembled. The 200-day MA now looms above the price, a first since early summer. This shift hints at waning momentum, but the $3K zone, with its confluence of factors, may soon see sellers’ power wane. 🐍📉

The daily candles, like tiny creatures, remain compressed with wicks stretching downward, hinting at absorption near the demand threshold. If Ethereum stabilizes and forms a higher low, a corrective phase toward $3.4K-$3.55K might emerge. But beware! A daily close below $2.95K would shatter the wedge support, exposing the $2.6K-$2.7K macro demand zone. ⚠️📉

The 4-Hour Chart

On the 4-hour stage, Ethereum dances within a descending channel, each lower high showing signs of weakening. The latest swing low pierced the mid-channel liquidity cluster, then reversed sharply-a classic liquidity sweep, heralding possible short-term relief. 🌪️📉

The $3K-$3.1K level, tested repeatedly, forms a textbook reaction zone where algorithms dance. Above, a new imbalance window at $3.25K-$3.33K waits, ready to lure buyers with a corrective push. 🧙‍♀️📈

But the structure remains bearish, unless Ethereum dares to reclaim the $3.35K midline. Failure to do so means more downward drift, with the $2.9K liquidity band waiting in the wings. 🐍📉

Onchain Analysis

By the enigmatic Shayan, who deciphers the cryptic messages of the blockchain.

The Ethereum Futures Average Order Size chart reveals a shift in the crypto kingdom. As the price fell from $4.1K to $3K, order flows turned to smaller retail orders, while big players retreated. 🐍📉

This pattern mirrors past times when retail investors capitulated near cycle lows, while big players quietly accumulated. The lack of whale-sized orders suggests the downturn is due to forced liquidations, not deliberate selling. 🧙‍♂️📉

This matches the liquidation heatmap, showing a dense band of wiped-out orders around $3K. Such wipeouts often precede a temporary recovery, as leverage is cleared. 🧙‍♀️📉

If Ethereum defends the $3K zone and spot flows show larger orders, a base for a corrective upswing may form. But if it breaks, the next liquidity zone is much lower, and the market’s deleveraging phase isn’t over yet. 🐍📉

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2025-11-18 20:25