I just checked the Ethereum chart and something interesting is happening. The death cross on the 3-day timeframe is already here, and according to the historical patterns I've seen, this could mean we're much closer to the bottom than many believe.

Look, the death cross typically appears when the 50-day moving average crosses below the 200-day moving average. Sounds bearish, right? But here’s the thing: in previous Ethereum cycles, the actual bottom coincided right at the moment of the death cross or shortly after. Only in a couple of instances did the market take longer to fully consolidate. If we follow that historical pattern, we're talking about roughly 54 days since the death cross occurred, which would bring us to around April 28. Not much time left.

Some analysts suggest that if the market hasn't fully bottomed out yet, we're probably in the last 2-3% of the total consolidation process. Basically, although there’s still some downside risk, most of the correction has already been completed. Historical behavior supports this idea: when you see a death cross, selling pressure begins to fade and long-term buyers start gradually entering.

Regarding the current price, ETH is hovering around $2.33k with a 2.76% drop in 24 hours. Here’s the important part: the $2,300 level remains a key resistance that Ethereum has not been able to break through sustainably. The price continues to be rejected in this zone, confirming that we are still in consolidation. The market structure is developing as expected.

Now, the level I’m really watching is $2,150. This level is critical because it combines a strong horizontal support zone with the 20-day moving average. If ETH falls below $2,150, we could see a more significant drop. But if the price holds here, that would be a sign of stability and could set the stage for another attempt to break upward.

Based on what I see with the death cross and the historical patterns, the focus should shift from panic selling to strategic accumulation. The numbers suggest we are near the end of this consolidation phase, but we need to watch those key levels in the coming days.