ETH is trading around 3067 after a clean breakdown from the 3250 to 3200 supply zone, and the chart shows sellers firmly in control on the 15 minute structure. The move lower was driven by a sharp increase in red volume, signalling forced liquidations and aggressive market selling rather than slow profit taking. The low at 3043 was swept, but the rebound lacked strength, showing buyers are still defensive and not yet willing to commit to a reversal.

Price is trading well below all three major short term moving averages MA5, MA10, and MA30. All of them are sloping downward and widening, which confirms strong bearish momentum. Every bounce attempt so far has been sold into, revealing that liquidity is stacked above price and sellers are using small pumps to reload positions.

Momentum is heavily negative. MACD, DIF, and DEA are deeply below zero with no sign of flattening yet. This tells us the downtrend has not cooled off and ETH may attempt to revisit liquidity below 3040 if buyers fail to step in. Volume spikes on red candles confirm that larger players are participating on the sell side.

Key levels to watch
Support 3040 then 3020
Resistance 3110 then 3160
A reclaim above 3110 would be the first sign of strength. Failing that, ETH remains vulnerable to deeper liquidity grabs.

Trade setup
TP 3018 then 2985
SL 3128

My take This is a bearish short term structure with more downside risk unless ETH reclaims 3110 with strong volume. As always, do your own research.
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