$ETH HUSD CM Quarterly is trading at $2,860.40, down 3.72%, after a sharp rejection from the $3,058.00 high that triggered a fast leverage flush. The range stayed wide with a 24h low at $2,817.71, while activity remained solid with $19.08M in 24h USD volume and 1.91M contracts traded.

On the 1H chart, ETH was rejected at the upper Bollinger Band near $3,000.50 and dumped aggressively to the lower band around $2,788.33. Buyers stepped in near the lows, and price is now stabilizing just below the mid-band at $2,894.42, with candles compressing and momentum slowing. The heavy red volume spike confirms a liquidation-driven move rather than organic selling.

This is a textbook shakeout — leverage cleared, structure rebuilding. A reclaim of the mid-band could spark a fast rebound, while failure keeps volatility elevated. ETH is calm for now… but the pressure is still there.

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