ETH Technical Outlook: Breakdown Below 0.236, Testing Cycle Lows
ETH has completed a clear distribution → breakdown → markdown sequence after rejecting from the 0.786 Fibonacci region near 4,267.
Following rejection from 0.618 (3,728) and failure to hold 0.5 (3,349), price formed consistent lower highs before losing 0.382 (2,970) and decisively breaking below 0.236 (2,502).
ETH is now consolidating near 1,950–2,050, just above the macro base at 1,745.
EMA Structure (Strong Bearish Alignment)
20 EMA: 2,203
50 EMA: 2,559
100 EMA: 2,871
200 EMA: 3,093
Price is trading below all major EMAs, confir