Alas, Ethereum commences its week in a state of genteel ruin, lingering near $4,000 like a dandy who forgot his umbrella. The so-called “buyers” have offered a paltry handkerchief to dab at the tears of correction-how tragically insufficient! One might say the market’s structure is less “corrective” and more “aesthetic,” a canvas for the artistically bankrupt.
Technical Analysis
By Shayan, the oracle of oscillators and purveyor of platitudes.
The Daily Chart
Behold the daily chart, a masterwork of mediocrity. ETH flirts with the 100-day moving average, now a chaperone of resistance. The RSI, that fickle companion, languishes at 47, whispering, “Darling, I have no direction today.” A tryst with $4,200 may yet awaken passion, but failure to breach the trendline would reduce this drama to a farce. Should $3,500 fall, the abyss yawns wider-$3,000 awaits like a bad pun on a rainy Tuesday.
The 4-Hour Chart
The 4H chart, a subplot of desperation, reveals ETH rebuffed at $4,200, now clinging to a fair value gap like a drunkard to a lamppost. The RSI, once overbought, now sips lukewarm tea, its bullish fervor cooled by the chill of reality. Buyers, if they exist, must defend this FVG with the vigor of a Victorian poet defending their latest sonnet-or face a descent to $3,600, where the air is thin and hope thinner.
On-Chain Analysis
Exchange Reserve: Where dreams go to die, and ETH goes to… well, the same.
On-chain sentiment, that most inscrutable of companions, offers faint praise: exchange reserves have dwindled to 15.8 million ETH, a record low. One might call this “bullish,” but let us not confuse scarcity with strategy. Futures markets remain as neutral as a diplomat at a funeral, requiring fresh catalysts to ignite a plot twist. Until then, ETH remains trapped in a corrective structure, a tragic hero awaiting a deus ex machina-or a very good influencer.
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2025-10-29 18:41