Peter Smith
⬤ Ethereum fell sharply to the $1,747 zone after losing a major long-term pivot that had held multiple times before. The breakdown was decisive, signaling a clear shift in momentum rather than a slow drift lower.
⬤ The chart shows price punching through a key horizontal support area that previously acted as a reliable floor. Once broken, Ethereum dropped quickly into the next demand zone without any meaningful bounce, confirming strong selling pressure behind the move.
⬤ Losing this long-term pivot changes the technical picture significantly. The next few sessions will show whether the market finds its footing with Bitcoin's help or slides further toward that lower target.
Peter Smith
