Ethereum’s Market Structure Weakening: A Shift from Breakout to Breakdown

Ethereum’s market structure is showing signs of weakness near $3,800, transitioning from a breakout trend to a breakdown pattern. Transaction volume has hit a new high, exceeding 1.6 million daily operations, while gas fees have fallen to record lows. This combination suggests enduring ecosystem stability despite short-term price softening. Ethereum’s technical landscape hints at fatigue with bullish momentum slowing down. Despite this, the network remains active, processing an impressive number of transactions and lower costs, highlighting continued strength underneath current market retracement.