$ETH / USDT

ETH swept liquidity above ~2,150 and immediately failed to hold, which triggered a sharp displacement into the 1,900s. That move looks like distribution resolving lower, not random volatility.

Price is now reacting off the 1,900–1,920 area, which is short-term demand, but structure is still below prior range lows. Until ETH reclaims and holds above ~2,020–2,050, this is a corrective bounce inside a broader bearish structure.

Downside liquidity has been partially filled, but not convincingly defended yet. A failure to build acceptance above 2k keeps the risk skewed lower. Reclaiming 2,050 would be the first signal of structural repair.

No rush here. Let price prove strength.