Machi's Account Plunges Below $100K Amid Bearish Ethereum Trend

Machi, a well-known crypto trader, has suffered three liquidations during the recent market drop. This unfortunate sequence of events has pushed his account balance below $100K with a fresh liquidation price at $1,843.4.

The Ethereum price action currently stands at $1,857.59, which is testing lower Bollinger Band support near $1,867.37. The MACD death cross at -4.85 and EMA50 resistance at $1,900.32 further reinforce the bearish trend structure above the EMA200 at $1,827.92.

The RSI in perpetual futures positions is currently at 37.11, leaving room for continued downside before any potential recovery. This pattern has been observed repeatedly over the past year amid repeated tests of key support zones.