$ETH – The price has bounced on the low timeframes; however, it has rejected at an important support range marked in purple at $2.1K, which was lost on the way down.

Because of this, until we see clear signs of strength, such as price reclaiming this lost support range, I believe the most likely outcome remains further downside into the high-timeframe support range marked in green, aligning with the early-April bottoming formation, before a more durable reversal to the upside.
That’s why I’m keeping my hedges in place to mitigate downside risk on the low timeframes.