ETH - Early Signs of WeaknessEthereum / TetherUSBINANCE:ETHUSDTVIAQUANTToday we have seen many headlines declaring the war is over, shooting all markets to the upside. But will this become a "sell the news" event? The current market structure is lining up for that to be a real possibility. Here are all the early signs that ETH might be forming a top around current levels. Of course this can be negated and change at a moment's notice, but here is what to watch for the time being. First and most importantly, the key level to watch on the 4H timeframe is $2,380 (yellow ray). If ETH closes at or below that level on the 4H, that will be the first major warning sign of a larger drop to follow. However, the most important close will be tomorrow's. If bears are truly in control they will attempt to close tomorrow's candle (April 18) below $2,350. If successful, that would align with a double top forming on the 3D line chart which would be a very powerful signal for bears to regain momentum to the downside. Price is also fighting crucial Fibonacci levels at this exact moment. On the macro Fibonacci trend price is right at the 0.786: Even on the micro trend from the recent high to low, price has been battling the 0.618. So far every daily candle has closed below this level (teal arrows). This is the first candle potentially closing above it, but we still have 4 hours until today's close. More importantly, even if price does close above today, if it closes below tomorrow it will simply become a false break and reclaim the bearish trend: Now take a look at the RSI. The 4H RSI is beginning to develop a clear bearish divergence with multiple higher highs in price followed by multiple lower highs on the RSI, showing the uptrend is weakening (red lines). The 4H RSI just got rejected exactly at the 70 level, which typically signals the final rejection before a major momentum drop. The RSI has also been developing a larger series of lower highs since the March 16th high (black trendline). Multiple other timeframes are also showing rejections right at overbought conditions (red arrows): Today's and tomorrow's close will be the big decision point for ETH. For now this looks like the top, but if price is able to confirm a break above these levels tomorrow then the move to $2,800 is on the table and I will make a follow up post on that development. For now, watch the RSI closely.