$ETH rally expectations for October just got wiped. The momentum that everyone was banking on? Gone.
Looking at the chart structure and volume profile, we're setting up for a sharp correction. The liquidity clusters below current levels are massive — market makers know where the stops are sitting.
What's interesting: funding rates were elevated for weeks while spot volume declined. Classic distribution pattern. Now we're seeing the rollover.
This isn't doom posting. It's pattern recognition. The same setup played out in March 2023 and June 2022 before significant drawdowns. Ethereum tends to lead altcoin sell-offs when Bitcoin dominance starts climbing again.
Watch the $2,350-$2,400 zone. If that breaks on volume, we're likely heading toward $2,000-$2,100 to fill the CME gap and flush out overleveraged longs.
Position accordingly. Cash is a position too.
Looking at the chart structure and volume profile, we're setting up for a sharp correction. The liquidity clusters below current levels are massive — market makers know where the stops are sitting.
What's interesting: funding rates were elevated for weeks while spot volume declined. Classic distribution pattern. Now we're seeing the rollover.
This isn't doom posting. It's pattern recognition. The same setup played out in March 2023 and June 2022 before significant drawdowns. Ethereum tends to lead altcoin sell-offs when Bitcoin dominance starts climbing again.
Watch the $2,350-$2,400 zone. If that breaks on volume, we're likely heading toward $2,000-$2,100 to fill the CME gap and flush out overleveraged longs.
Position accordingly. Cash is a position too.