Bitcoin Stalls as Ethereum Flashes Worst Weekly Signal in Years: Analysis
Bitcoin Stalls as Ethereum Flashes Worst Weekly Signal in Years: Analysis
Zooming out on the weekly chart, the Fibonacci retracement (natural support and resistance zones that happen during a trend) of that entire downleg from $82,833 places the $73,245 and $70,284 zone as with the most activity.
The Average Directional Index, or ADX, is at 30.7. The ADX measures trend strength regardless of direction on a scale from 0 to 100. When it's above 25, this tells traders that an actual trend is in place, and 30.7 is solidly there. Based on directionality, bears are in control.
The Relative Strength Index, or RSI, sits at 36.8. RSI measures momentum, similarly on a 0–100 scale: Above 70 signals overbought conditions and usually triggers profit-taking; below 30 signals oversold conditions that typically attract buyers. At 36.8, Bitcoin is close to oversold but hasn't crossed the threshold yet. The technical setup suggests selling pressure may be approaching exhaustion—but "approaching" isn't "done." Right now markets appear to be panic selling.
One note of caution for the bears: The picture painted by the exponential moving averages remains bullish. Bitcoin's 50-week exponential moving average, or EMA, is still above its 200-week EMA. When this happens, it forms a pattern that traders refer to as a "golden cross," which in this case is technically still intact. But it's narrowing fast. The inverse of a golden cross is a death cross, and if it forms on the weekly chart it would represent a structural shift that very few Bitcoin cycles have survived without a deeper flush first.
Thankfully for permabulls, this has not happened in a while.
Reasons for the bullish case are mostly fundamental:
Spot Bitcoin ETFs just snapped a 10-day, $2.7 billion outflow streak with a $221.7 million single-day inflow on July 2, and have since pulled in roughly $510 million. On-chain data from Glassnode shows long-term holders have returned to accumulation after an extended period of distribution, with buying activity broadening across wallet cohorts.
The Fear & Greed Index at 23, registering "extreme fear," is historically a contrarian signal—not a guarantee, but a pattern. Some indicators approaching oversold from the weekly chart suggest the selling may be closer to exhausted than just starting.
For the bearish scenario, the technicals are more apparent for those focusing on shorter time frames:
Bitcoin failed to break the exact resistance everyone was watching. ADX at 30.7 with bearish directional index confirms an active downtrend with real momentum. Year-to-date ETF outflows are still negative. Citi downgraded its 12-month Bitcoin forecast to $82,000 with a bear case at $53,000. The Fibonacci target below current price at $57,735 is still the most visible technical magnet on the chart. Myriad's prediction market—where money, not opinions, speaks—says a 72.3% chance of $55K first.
Ethereum price: The death cross nobody wanted
Ethereum is trading at $1,729.7, down 3.06% from its $1,784 weekly open. That number is painful enough. But the bigger story isn't the weekly candle—it's what just happened on the weekly chart under the hood.
Ethereum has just confirmed a weekly death cross. The 50-week exponential moving average has crossed below the 200-week EMA for the first time in years. The upcoming days/weeks will be key to define positions for long-term trades if the cross extends and is not invalidated.
On shorter timeframes, death crosses happen regularly and can reverse quickly. On the weekly chart, they represent months of structural deterioration, and they tend to define entire market phases rather than single moves.
Ethereum's daily chart has been in death cross since November 2025, when ETH peaked near $4,100 before beginning its extended decline. That daily bearish structure has now propagated to the weekly frame—a longer-timeframe confirmation that the bear trend isn't a blip.
Traders on Myriad appear as bearish on ETH as they do on BTC, likewise pricing in a 72% chance Ethereum hits $1,500 before $3,000. These odds flipped in May—before that, the market was closer to 50-50 between the two outcomes. The gap between options is now at its largest since June, suggesting conviction has moved firmly into the bearish camp among traders putting actual money on the line.
The Fibonacci retracement on ETH's downleg from $2,465.8 to $1,505.1 defines the zone between $2,098.9 and $1,985.5 as the ones with the most activity to watch for. Current price at $1,729.7 is pinned near the Fib level at $1,731.8. Below that, the next meaningful technical reference is the $1,500 price zone. That's exactly the doom scenario Myriad traders are betting on.
The ADX reads 26.5 with bearish directionality—same story as Bitcoin, just more pronounced. A trend is confirmed, the direction is down, and the bears have the momentum. RSI at 36.9 mirrors Bitcoin's reading almost exactly: bearish, approaching oversold but not there yet.
Some hopium for the bulls: Weekly death crosses on Ethereum have historically appeared around the final stages of bear market cycles—not the middle of them. In prior cycles, the three-day death cross frequently coincided with or immediately preceded significant bottoms. In other words, this is the panic zone in which many people wait to buy the asset for cheap.
If that pattern holds, the pain may be closer to ending than beginning. ETH spot ETFs turned positive on July 2 with $29.1 million in inflows. RSI is approaching oversold on the weekly—a zone that has historically been a strong accumulation signal for patient buyers.
Now for the bears: A weekly death cross is a new structural reality, not a temporary signal—it took months to form and typically takes months to reverse. US spot ETH ETFs logged a record 17 consecutive days of net outflows totaling $401 million in May, followed by another 10-day streak in June.
The Fibonacci target of $1,500 is technically the next major level, and it's the exact number Myriad's 72.3% majority is betting on. Citi's bear case for ETH is $1,094. The weekly structure doesn't give bulls much to work with until the price of Ethereum reclaims the $2,000 area—a 15.6% climb from current levels that would require a sustained trend reversal that no indicator yet confirms.
This article has been published in decrypt.co via Yahoo News.
Bitcoin Stalls as Ethereum Flashes Worst Weekly Signal in Years: Analysis
Bitcoin is looking slightly more optimistic but failed the breakout everyone was watching. Meanwhile, ETH just printed a weekly death cross for the first time in years.
finance.yahoo.com
