Could Ethereum Be on the Way to a Collapse?

The Binance Price & Volume chart shows a macroeconomic structure that is still in a horizontal trend at its peak. While higher lows have been maintained since the 2020 lows, there has been no new peak formation in recent months. With the recent move, there has been a sharp rejection from the $4.8K region, and the price has now retreated to around $2.9K. The EMA(7), EMA(14), and EMA(30) structures signal a short-term correction. Historically, these types of pullbacks create a new accumulation zone without breaking the main trend.

On the Spot Taker CVD (90-day) chart, Taker Sell Dominant (red) bars are prominent in the current region. However, these red periods have often been seen in bottom or pre-bottom regions in the past. Particularly in the examples of 2021, 2023, and 2024, while Taker sales increased, the price remained horizontal for a while before breaking upwards. There are aggressive sellers now, but these sales are not yet pushing the price below a new major low. Therefore, it is highly likely that we are in a pre-bottom period.

Considering these two charts, I can say that the price is in an accumulation zone and a breakout is imminent.

Looking at historical similarities based on these two charts, after such periods, the price generally first moves horizontally and then makes a sharp downward breakout. In short, the Ethereum price may be in the final stretch before a collapse. $ETH