The reason why ETH continues to decline from 4900 Dollar - the structure visible through Technical Analysis

Why did Ethereum fall from 3600 Dollar to 2500 Dollar, and then to 1200 Dollar, ultimately reaching a limit of 880 Dollar? Apart from the buying support from the ETF, the fundamentals are almost filled with bearish factors.

The current state indicated by the K line

1. The Trap of Historical Highs The recent rise from the previous high of over 4800 Dollar to this time over 4900 Dollar is actually a typical false move. It appears to break through historical highs, enticing many buyers before reversing—this is a common tactic of market manipulators.

2. Volume Tells the Story of Capital Outflow Here is the important point: during the adjustment phase, it is experiencing “not reduction but a downward movement.” In other words, funds are being sold off in large quantities seeking an escape. The dumping does not stop even in the low price range = the anxiety of institutional investors and large holders is extremely high.

3. Scenario-based downward movement target

• Step 1: 2500 Dollar
• Stage 2: 1200 Dollar
• Stage 3: 880 Dollar

4. Trading Strategy Instead of aiming for short selling, we wait for a strategic buying opportunity. Picking up 20-30% in the $2500 range and going all-in in the $1200-$880 range is likely to be a realistic scenario.