ETH’s Price Plummets: Is It Time to Panic-Sell or Laugh It Off? 😱💸

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Hot Goss: 🍵

  • Ethereum ETFs are bleeding faster than a broken fountain pen-$364 million in three days. Ouch. 📉

  • Strategic Ether reserves are vanishing like my will to adult-down 124,060 ETH since mid-October. 🚀✨

  • Descending triangle on the chart says ETH might hit $2,870. Spoiler alert: it’s not a good look. 🔻

Ether (ETH) has been on a wild ride lately, dropping 14% in 30 days and now chilling at $3,724. But let’s be real, the charts are moodier than me on a Monday, and the ETFs are acting like they’ve seen a ghost. 👻 Is $3,000 the new black? Maybe. 🤷‍♀️

Institutions Are Ghosting ETH Like It’s Their Ex 💔

Why the dip, you ask? Well, investors are de-risking faster than I dodge my landlord’s calls. Spot Ethereum ETFs are feeling the burn, with traders pulling out more cash than a Black Friday sale. 🛍️

US-based ETFs lost $363.8 million in three days. That’s like, a lot of avocado toasts. 🥑 According to SoSoValue, the party’s over-for now.

Meanwhile, Solana ETFs are having a moment, stealing the spotlight like the new kid in school. CryptoMoon says it’s all about the rotation, baby. 💃

StrategicETHreserve.xyz spills the tea: reserves and ETFs are down 124,060 ETH since Oct. 16. Institutional demand? More like institutional drama. 🍿

Analyst Ted Pillows (yes, that’s his name) says, “Ethereum treasury companies are still going down,” with BitMine as the lone wolf buyer. But even he’s not convinced it’ll last. 🌝

With prices dropping, treasury companies might run out of cash faster than I run out of excuses. Pillows adds, “Until these stocks recover, ETH’s recovery is as likely as me becoming a morning person.” ☕

“Until these stocks recover, I don’t see a possibility of ETH price recovery.”

Descending Triangle: The Chart Pattern That’s More Dramatic Than Me 🎭

Since Oct. 7, ETH’s chart has been forming a descending triangle-basically, a fancy way of saying it’s headed south. 🧭 Flat support, downward resistance, and a 22% drop to $2,870 if it breaks. Yikes.

CryptoBull_360 (yes, another gem of a name) says, “ETH has broken below the triangle and is testing the breakdown level. If it succeeds, grab your popcorn-the downtrend’s here to stay.” 🍿

“If the retest of the breakdown level is successful, it confirms that the downtrend will continue.”

And let’s not forget the SuperTrend indicator, which flipped from green to red faster than my mood swings. Last time it did this, ETH dropped 22%. History repeating itself? Maybe. 🕰️

Pillows warns ETH is at a “crucial support zone” around $3,700. If $4,000 isn’t reclaimed ASAP, $3,500 is next. CryptoMoon says $3,350 if $3,700 breaks. It’s like a never-ending slide, but less fun. 🎢

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2025-11-03 20:14