Ethereum has been trying to recover but still can't maintain strength. I just looked at the charts, and things don't look good in the short term. The price bounced up to $2.4k but didn't hold, and now we're seeing why Ethereum is falling so consistently.

The main reason is that it remains rejected at that resistance zone. ETH is well below the 100- and 200-day moving averages ( at $2.5k and $3.1k), and both act as a ceiling. On the daily chart, the structure still shows lower highs, so as long as this pattern persists, selling pressure will continue. Right now, it's around $2.33k, but if it loses support $2k convincingly, it will probably drop to $1.8k.

What worries me most is leverage. There is a lot of open position in the system right now, which means any strong move downward could trigger cascading liquidations. That's why Ethereum keeps falling without much resistance. Sentiment is fragile, and everything depends on whether buyers can hold $2k or not.

For the outlook to change, it would need to break above $2.2k and regain real strength. Until that happens, we remain in a downtrend, and the next important test is that $1.8k zone I mentioned. The coming days will be crucial to see if this stabilizes or if it keeps falling.