$ETH
is still grinding inside that bearish flag the same pattern that tipped the last leg down. When price consolidates like this after a sharp drop, it's usually not bottoming. It's reloading.
The closest major support that actually matters is down at 1600. That's the level where ETH bounced hard after Trump's reciprocal tariff hit — it was a panic bottom that held because buyers stepped in aggressively. If this flag breaks down and we head there again, the question is whether that bid still exists or if the market has changed enough to slice straight through it.
Right now there's no sign of strength. The flag is getting tighter, the bounces are getting weaker, and the path of least resistance is still pointing lower. A break below the flag support and 1600 becomes the target fast.