Bearish Continuation or Rebound Ahead ?

• The bands are widening, indicating increased volatility.
  
• Price has been hugging the lower Bollinger Band, suggesting a strong downtrend.
  
• Increased Volume on Sell-Off: The recent strong bearish move was accompanied by high volume, confirming strong selling pressure.
  
• Possible Capitulation?: If volume spikes further while price stabilizes, it could indicate potential short-term bottoming.
  
• Support: Around $2,000 (psychological level).
  
• Resistance: Near $2,500 - $2,600 (recent breakdown level & middle Bollinger Band).
  
• Bearish Bias: Price action and indicators suggest further downside unless buyers step in strongly.
  
• Short-term Relief Bounce Possible: If ETH holds the $2,000 level, a temporary rebound could occur.
  
• Bearish Scenario: If ETH closes below $2,000, expect further downside toward $1,800 or lower.
  
• Bullish Recovery: A strong close above $2,500 would indicate potential trend reversal.
  
• Wait for Confirmation: Watch for a bullish reversal pattern or volume divergence before entering long positions.