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ETH is clearly weak. On the daily chart, the moving averages show five layers of pressure with a bearish alignment. The strongest resistance is at 2200 above; if price can’t reclaim it, don’t expect an upward breakout—watch the bearish trend. Below, the 2000 round-number support is the key level. This is the market’s psychological price zone; a break below will accelerate the move.
On the weekly timeframe, the breakdown confirmation is in place. Currently, price is struggling on the edge, and it’s watching the 2000 support tug-of-war.
As for market news: the US and Iran are close to signing a 60-day suspension agreement, which would reopen the Strait of Hormuz. However, the broader market reaction is not strong, and the suppression is evident.
The strongest bearish signal is that the new Federal Reserve chair, Wosh, took office and advocates shrinking the balance sheet by 2–3 trillion USD in US Treasuries, withdrawing funds from the market—this could trigger panic and have a major impact.