ETH - The Battle at the 200 Ethereum / TetherUSBINANCE:ETHUSDTVIAQUANTI have many more posts coming for ETH outlining different structures, but for now I just want to take a simple look at the 3-day chart. The 200 EMA Many people overlook the 3-day chart, but it has been providing one of the clearest signs of what is happening with ETH's current price action. Starting with the 200 exponential moving average (dark blue), ETH has continued to respect all candle closes below the 3-day 200 EMA. Every time price approaches it and gets rejected on the close specifically, it reinforces that sellers are actively defending that level rather than buyers just failing to reach it by chance. The 200 SMA Now let's look at the 200 simple moving average (sky blue). What is interesting here is that the pump ETH saw on September 11, 2026 brought price to a high of $2,666, an almost perfect test of the 200 SMA as resistance (red arrow). This came right in line with ETH/BTC printing a double top that I outlined in this idea: A Massive Week Ahead Tomorrow is a big day. With the CLARITY Act heading to a Senate vote tomorrow and FOMC landing on Wednesday, ETH is about to either respect this structure, leading to a large downside drop, or close its first candle above resistance, which could provide the fuel needed to push toward the $3,000 level. ETH closes another 3-day candle tomorrow, so pay close attention to whether that close occurs once again below the 200 EMA, or whether this becomes the first 3-day candle of the current trend to finally break above it. One thing ETH does have going for it from the bullish side is that it is maintaining overbought conditions on the 3-day RSI. This shows there may still be enough underlying strength for one more push to the upside. However, if ETH closes the 3-day candle back below the 200 EMA and also breaches back inside the RSI channel, that would be the signal for the drop to begin instead.