ETH Bloodbath: My Raw Take on What's Really Happening

Just watched ETH get absolutely hammered – this ain't your average dip, folks. This is full-on panic mode. Weak hands getting flushed out like toilet paper while price tests levels we haven't seen in months. Damn.

I've been staring at the 4-hour chart, and it's ugly. Lower highs, lower lows – the textbook definition of a downtrend. RSI and MACD both screaming "oversold," but I've learned the hard way that oversold can always get more oversold when fear takes over.

What's interesting though – everyone and their grandmother seems to be shorting ETH right now. Could set us up for a nasty short squeeze if bulls decide to make a stand here.

Support & Resistance Zones I'm Watching

$3,900-$3,833: This is the immediate battleground. Bulls need to hold this line or we're fucked.

$3,600-$3,400: If we break down, this is where I'm expecting the next bloodbath. Some charts suggest we could hit $3,450 before finding real support.

$4,000: The psychological barrier that's now flipped to resistance. Breaking back above this would be step one for any recovery.

$4,100-$4,200: Major resistance zone if we bounce – expect sellers to show up here in force.

$4,700-$5,000: Forget about this for now – that's fantasy land until this mess sorts itself out.

Where We're Headed (My Gut Take)

Scenario A – The Bull's Prayer ETH somehow holds $3,900-$3,833, bounces hard toward $4,200, then maybe – just maybe – makes a run at $4,700 if momentum builds. Bulls need to reclaim $4,000 and actually hold it, not just kiss it goodbye on the way down again.

Scenario B – The Reality Check Support crumbles at $3,833, triggering another wave of panic selling down to $3,600-$3,400. Any bounce from there would likely be weak and pathetic.

Scenario C – The Sideways Grind We get stuck in a boring range between $3,900-$4,200, chopping up both longs and shorts while everyone tries to figure out what the hell is happening. Markets love to cause maximum pain.

How I'm Playing This

I'm leaning toward Scenario B, honestly. This dump has real weight behind it. I wouldn't be surprised to see ETH slide toward $3,600 before finding its footing.

I'm staying the hell away from longs right now – that's like trying to catch a falling knife in the dark. I'll watch how price reacts at $3,900-$3,833, and if that gives way, I'm eyeing $3,600+ as the next target.

If we do get a bounce, I'd be looking for resistance at $4,100-$4,200. Until ETH can convincingly break back above $4,000 with actual volume behind it, I'm treating any rally with extreme suspicion.

The market rewards patience, not heroics. Sometimes the best trade is no trade at all.