$ETH The structure is bearish. The price has retreated about 8.6% from its high of 2450 to around 2238. Over the past 24 hours, aggressive trading saw net selling of about 210,000 coins and net outflows of approximately $120 million. The Bollinger middle band has moved down to 2326.7, capping any rebound. The value area is 2199.3–2486.6, and the price is hugging its lower boundary, while the cost basis remains concentrated above at the 2329.9 POC. Around 2409.3, a long-position cost wall of roughly $120 million is still weighing on the price, making that level a selling point for traders looking to break even. Shorting at the current price would leave too little room before support at 2199.3, offering an unattractive risk-reward ratio. So place a limit order to short around 2293, in the short-term congestion zone where traders are trapped, and wait for the price to rebound into that area before entering. Set the stop-loss above 2295; if the price holds above that level, the rebound has exceeded expectations, so exit and accept the loss. The target is the liquidation cluster around the 96-hour low of 2217.6. Below that, around 2121.9, roughly $130 million in long liquidations could provide further fuel. The main risk is the substantial liquidation fuel around 2205: if the price rebounds quickly after a sharp drop, the short position could be stopped out. Since the stop-loss is close, leave room in the position size. #ETH #ETH Price Analysis