ethdeathorstrategy

After a period of strong gains, the Ethereum ($ETH ) chart is starting to flash warning signs for investors. Despite repeated attempts to push higher, the cryptocurrency appears to be losing its bullish momentum, suggesting a potential shift in trend.
Multiple rounded bottom formations (represented by the blue and green curves) on the chart indicate that buyers have previously stepped in to accumulate $ETH after price dips. These accumulation phases were followed by strong price increases, demonstrating bullish strength in the past.
However, a key development has challenged this trend. The price of ETH recently peaked around $4,960 but failed to maintain its upward trajectory. Instead of breaking out to a new high, the price has pulled back, creating a lower high on the chart. This is a classic bearish signal, indicating that the buying power that previously drove the price up may be exhausted.
The $4,000–$4,200 support zone has been a critical level, with the price repeatedly bouncing off it. While this support has held so far, the formation of a lower high suggests that sellers are gaining control. If ETH fails to hold this crucial support level, it could confirm a bearish trend and lead to further price declines.
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