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$ETH is breaking down hard from the bearish channel structure.
Every relief bounce has been sold into, and now price has officially lost the lower trendline support that was holding the entire move together. That’s usually where panic starts accelerating.
The rejection from the upper descending resistance confirmed seller control early and since then, ETH hasn’t printed a single convincing recovery.
Now trading near $2178, the structure still favors continuation to the downside unless bulls reclaim the breakdown zone quickly.
📉 Market Bias: Bearish
Key resistance: $2220 – $2240
Breakdown confirmation: Below channel support
Next areas to watch: $2160 → $2140 → $2100
Momentum remains weak, and catching falling knives in this type of setup is rarely a good trade.