$ETH is sitting around $1,976 after that sharp flush.
Trend is still pointing down. Lower highs. Weak bounces. Sellers in control.
For now, demand is trying to hold this area. That’s the only thing keeping structure from breaking further.
Here’s how I see it:
• Reclaim $2,200 and you probably get a short-term relief bounce. Nothing crazy, just breathing room.
• Lose $1,900 and the path to $1,700 opens up fast.
This is not the spot for blind conviction. It’s a level-to-level market right now.
Respect the trend. React, don’t predict.