Ethereum’s Macro Bear Structure Strengthens as Analysts Eye a Massive Decline

  • Ethereum has been able to maintain above $200 despite the recent turbulence seen within the aggregated crypto market
  • This outperformance of Bitcoin has allowed it to gain some strength on its embattled BTC trading pair
  • ETH is still in a precarious position, however, as analysts are noting that its macro bear structure still remains strong
  • Analysts are also widely flipping short on ETH, with some anticipating massive downside

Ethereum’s price action has been largely lackluster in recent times, with the cryptocurrency lacking a trend in the weeks following the harsh rejection it saw within the lower-$230 region.

This trading has led the crypto to see massive losses against its BTC trading pair. The weakness here has spilled over into its USD pair as well, causing it to flash some notable signs of weakness.

Some analysts are now noting that ETH could be positioned to see a massive decline in the days and weeks ahead. One is even noting that having the opportunity to short the crypto at $200 is a “gift.”

Ethereum Poised for Notable Downside Despite Hovering Above $200 

At the time of writing, Ethereum is trading down just over 2% at its current price of $203. This marks only a slight decline from daily highs of $208 that were set yesterday.

ETH’s buyers have been ardently defending the $200 level over the past several days and weeks – signaling that it may have some significant support at this level.

It is important to note, however, that Bitcoin’s present weakness as it hovers beneath $9,000 has opened the gates for altcoins like ETH to also see some significant feebleness, as they have generally been underperforming BTC in recent times.

One analyst is even noting that Ethereum could soon see a “car crash” decline. He claims that it needs to break below $190 in order for this to occur.

“ETH is going to be an absolutely car crash if it starts breaking down below the lows at $190,” he explained while pointing to the chart seen below.

Image Courtesy of Cold Blooded Shiller

ETH’s Macro Bear Structure Remains Strong

Other analysts are growing increasingly bearish on Ethereum’s near-term outlook as well.

Another popular pseudonymous analyst recently explained that its macro outlook remains firmly bearish due to continued rejections at a key descending trendline.

The chart he references suggests ETH will soon be trading in the sub-$100 region.

“ETH / USD 3D TF- Marco Bear structure still standing strong, bulls rally up failed to break out… Selling around ETH ~$200 is still a gift,” he stated while pointing to the chart seen below.

Image Courtesy of Escobar

This potential decline back towards Ethereum’s yearly lows will likely only be plausible if Bitcoin also finds itself caught within an intense downtrend.

JuiceStorm TV

Trading The UK, IE, US And AU Betfair Horse Racing Markets 24/7

The Betfair selections we are trading above are UK time. Only filled trades or bets appear on JuiceStorm TV.

Unsure how to get involved? Take a look here.

In 2021 TradeHost traded 7,937 Betfair UK, IE, US & AU horse racing and greyhound markets.

2022 saw TradeHost become even more profitable with 22,698 Betfair markets traded.

2023 less markets were traded – 17,459 – but a with a similar profit to 2022.

All trades and bets were streamed live on JuiceStorm TV which was was watched by 124,209 traders in 2022.

All results for the 48,094 Betfair markets traded are here and the charts are here.

Top 100 Comments on

Racing Traders has over 20,000 registered members and more join every day. Find out why with a free trial.

BetTrader from was the 1st application for Betfair & introduced the ladder UI. Invest £99 in yourself with a JuiceStorm EXCLUSIVE crypto only offer for a BetTrader lifetime license and no further payments.

Successful Betfair Traders have the simplest Betfair Trading systems. The difference is their selection process, experience and execution level. Get that difference for yourself with automated trading by TradeHost.

Our AI articles are NOT written by a real person and are provided for entertainment only. They may contain content which is inaccurate but we are hoping our AI bot, Rose, will become better over time. The AI category is the ONLY section of that has zero human input.

Leave A Reply
Comment Rules

  • Please show respect to the opinions of others no matter how seemingly far-fetched.
  • Abusive, foul language, and/or divisive comments may be deleted without notice.
  • Each JuiceStorm member is allowed two daily comments. Use them wisely.
  • Comments must be limited to the number of words displayed above the comment box.
  • Use branded capitalisation, eg. JuiceStorm, TradeHost, BetTrader, etc or John will get upset.
  • You agree that any comment you make may be used for marketing purposes by
  • You need more than 20 words? Click here for the largest Telegram community for Betfair Traders.