At 20:20, a bar showing 24.71 million contracts had just closed.

First, from the bulls’ perspective: the biggest worry is another test of 2012.35.
But the bears have already tested this level once. They didn’t follow through afterward, so that test came to nothing.
Now, from the bears’ perspective: the 19:00 candle dropped $31 on 3.05x volume—pretty brutal.
An hour after the drop, price had recovered only $15 from 2012.35, while volume collapsed to 0.78x.
The bulls are still worried they won’t be able to reclaim MA20 at 2055.73.
The bears fear that level too: if price gets above it, they’ll have to go back to 2102.93 and add again.
Both sides fear the same line, and each is waiting for the other to make the first move.
Now $ETH 2027.45, still $28 short of that line.
No one dares make the first move at the same line, so neither will I. I’ll let it choose for itself.
(Not investment advice; trade at your own risk)