Ether flushes to 2,357, then steadies near 2,400
Ether spent the last 12 hours bleeding from 2,489 toward a 2,357 low in the 18:00 hour, the heaviest print of the day at roughly 4.97 million in volume. The prior block had already been drifting lower, but this was the first genuine capitulation-style flush rather than a quiet grind. Since then the tape has stabilized, holding a tight 2,388–2,412 range over the last six hours and settling near 2,400. CVD is still negative at roughly -7.3k, though the last two hours show sellers losing their edge.
Full analysis
ETHUSDT Desk Read — the capitulation flush, then a quiet stabilization
Angle this run: the *flush and the flat*. Last cycle framed Ether as a slow bleed being met by a late bid. That bid did not hold — instead the market resolved it with the one thing missing from the prior read: a real volume flush. The 18:00 hour printed ~4.97M in volume on a drive from 2,439 down to a 2,357 low, the single heaviest hour of the day. That is not distribution-by-drip; that is a stop-run and a washout. What matters now is what did *not* happen after: no follow-through. The last six hours have been a tight, low-volume sideways band — the market flushed, then went quiet.
12h vs 6h comparison
| Window | Open | High | Low | Last | Net move |
|---|---|---|---|---|---|
| Last 12h (15:47→03:47) | ~2,423 | ~2,446 | 2,357 | ~2,400 | -0.9% |
| Prior 12h (03:47→15:47) | ~2,497 | ~2,500 | 2,388 | ~2,423 | -2.7% |
| Last 6h (21:47→03:47) | ~2,391 | ~2,412 | 2,387 | ~2,400 | +0.4% |
The two 12h blocks tell a story of compounding distribution. The prior block gave back ~2.7%, and the current block extended the low by another ~30 points to 2,357 before stabilizing. But the 6h row is the tell: a +0.4% drift on a range of barely 25 points. The selling impulse that carried the flush has not been renewed.
Volume and delta
| Window | Delta | CVD | Read |
|---|---|---|---|
| 02:00 hour | -930 | -7,464 | sellers still in control |
| 03:00 hour | -608 | -7,329 | selling pressure fading |
| 2h rollup (02:00–03:00) | -1,538 | -7,464 | aggressive asks dominate, but delta_max ~5,054 shows real bids absorbing |
CVD has been pinned negative all session, but the trajectory is the signal: the last two hours show delta narrowing from -930 to -608, and the 03:00 bar posted a delta_max of +4,096 — a cluster of genuine aggressive buying late in the window. The flush printed the volume; the stabilization is printing the absorption.
Session tone
The 18:00 flush (2,357 low on 4.97M) marked the day's capitulation. Since then, ETH has been building a base between 2,388 and 2,412 — a tight, low-conviction accumulation band rather than a V-shaped recovery. Price has reclaimed 2,400 but has not yet recaptured the 2,412 shelf that capped the last six hours.
Levels to watch:
The read: downside momentum has exhausted itself in a single flush, and the last six hours are a quiet accumulation band rather than a continuation. Holding 2,388 keeps the stabilization thesis alive; a decisive break below 2,357 would reopen the flush. Above 2,412, the next test is 2,446. Bias is flat with a mild constructive lean on the absorption.