Ethereum in bearish guard

Ethereum-in-bearish-guard

Checking the technical and Onchain charts of Ethereum shows its bearish guard before the Shanghai update.
In the technical charts, Ethereum is below the 50-week moving average resistance and at this point, it has Negative divergences in RSI, MACD, and Wave Trend. This can be considered a bearish pre-signal. Ethereum is above the support level of $1,460 and the breakdown of this support level will definitely mean a price drop.
On the other hand, the bearish guard of whales can be seen in the on-chain charts. The ratio of outflow to the inflow of whales (top 10)  has decreased drastically and exchanges have also reduced their Ethereum supply (based on ETH Exchange Supply Ratio). (This metric usually increases significantly in the accumulation phase.)
Derivatives market sentiment also seems bearish. Although the  Open Interest has increased relatively, the ratio of sellers to buyers has a significant advantage, and this indicates bearish market sentiment among derivatives traders. 
As you may have guessed, I expect a bear market in the coming days or weeks