ETH About to Squeeze?! 🍋📉

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Ethereum, down 55%? 📉 From December? Oh, come on! Like we didn’t see that coming. It’s always something with this crypto stuff. Blame it on Trump, blame it on the trade war, blame it on the weather! 🙄 Whatever. The point is, it’s down. And people are freaking out.

But wait! There’s hope! Apparently, these “on-chain data” people, CryptoQuant or whatever, say the supply on exchanges is going down. So what? It hasn’t gone up yet! It’s like saying my chances of winning the lottery are increasing because I haven’t won yet. 🙄 Makes no sense!

So, ETH is under pressure. Big deal. It’s always under pressure. But maybe, just maybe, if people start buying again, there might be a “strong rally.” Yeah, right. I’ll believe it when I see it. Until then, it’s all just a fragile state. Like my Aunt Sylvia’s antique teacup collection. ☕

Ethereum Tests Critical Support As Exchange Supply Drops

Testing critical demand levels? More like testing my patience! 😩 Below $1,800? That’s the “last line of defense”? What is this, a war movie? Give me a break. It’s just numbers going down on a screen. But hey, let’s all panic because of “trade war fears.” The world is always ending, right?

Ethereum has been “particularly weak” since February? You don’t say! It’s almost like the whole market is a rollercoaster designed to give you a heart attack. And the bulls? They lost control? Well, maybe they should try holding on a little tighter next time. 😠

But hold on… Quinten Francois, the “top analyst,” says the supply is plummeting! Shared via X, no less! So official. People are moving their ETH into cold storage? What, like a crypto freezer? 🧊 Reducing sell-side pressure? Maybe they’re just tired of watching the numbers go down.

Historically, this “ongoing decline” precedes bullish breakouts. So, you’re saying there’s a chance? 🤞 A sharp rally? I’ll get excited when I see it. Until then, it’s just another “compelling setup” for disappointment. Like that time I tried to assemble IKEA furniture.

So, ETH needs to hold above $1,750–$1,800. Otherwise, what, the world implodes? Long-term holders are watching? They’re probably just bored and have nothing better to do. I know I am. 😒

ETH Trades Below Key Weekly Indicators

Below the 200-day moving average AND the exponential moving average? Oh, the humanity! Key long-term indicators? More like key long-term stress inducers. This “breakdown” highlights the “severity of the ongoing correction.” You know what else highlights the severity of things? My tax bill. 💸

Momentum remains weak? No kidding! Attempts to recover have been “short-lived”? Welcome to my dating life. Macroeconomic instability? Selling pressure? It’s just one thing after another! To avoid further downside, ETH must hold $1,800. Or else…?

If the bulls manage to defend this level and reclaim $2,000, it could signal the beginning of a recovery rally. Or it could be a fluke. Who knows? Reentering this range would “shift sentiment.” Maybe to mild amusement? Until then, ETH remains vulnerable. Like a house of cards in a hurricane. 💨 And a close below $1,800 could open the door to a retest of lower support levels. Translation: It could go even lower. 🤷‍♂️

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2025-04-06 23:43