Ethereum Teeters at 200-Day EMA: Make-or-Break Moment for Bulls as Reversal Looms

Ethereum's price action is flashing red as it tests a critical support level—the 200-day exponential moving average. Traders are watching this key technical indicator like hawks, knowing a breakdown could trigger cascading liquidations.
The 200-day EMA has historically acted as a springboard for ETH's major rallies. But this time? The stakes are higher—with leverage at record levels and derivatives markets looking top-heavy.
If support holds, we could see a violent squeeze upward as overeager shorts get wrecked. If it fails... well, let's just say those 'ETH to $10K' moonboys might need a reality check—and maybe a loan from their friendly neighborhood crypto hedge fund.