$ETH The structure is bearish, with the price trading around 2224.4 below the Bollinger middle band, which has continued to fall to 2253. The price is down about 8.1% over 24 hours, with net aggressive selling of around 200,000 coins. The POC at 2314.9 is the data-based cost-basis center; together with resistance at 2418.7 and the Bollinger upper band at 2332.5, it forms a distant resistance zone. Below, 2211.1 is the nearest support, followed by the 20-hour low at 2205.4. Within a 15% drop from the current price, around $320 million in long liquidations has accumulated as fuel. Of the roughly 19,000 accounts with open positions, longs make up nearly three-quarters, leaving leveraged longs crowded. The current price is just one step away from support at 2211.1, while the rebound is too weak to reach an ideal limit-entry level, making a market short more practical. Place the stop above 2250.5; if the price holds above this level, it would mean the rebound has exceeded expectations, so exit and accept the loss. Target 2207.6, right in the weak zone between support at 2211.1 and the low at 2205.4. If that level breaks, a cluster of around $130 million in long liquidations near 2134.1 could provide further room for the downtrend. The main risk is net aggressive buying of around $10.59 million over the past 4 hours, indicating that short-term buying support remains. If the price moves straight back above 2250.5, the short thesis is invalidated; a rapid rebound after a sharp drop could also trigger the stop. #ETH #ETH Technical Analysis