#ETH Macro trend: Still bearish / corrective
$ETH remains below a descending trendline from the $4.9k high
Price is making lower highs and lower lows
The current move is a counter-trend rally, not a reversal
Structure has not flipped bullish
Current Price Action (Key Observation)
ETH is trading around $3,200
Rejected a local lower high
Printed small-bodied candles showing loss of momentum
The short-term uptrend (black micro trendline) is breaking down
This is distribution behavior, not continuation
RSI ~ 53
Clear bearish divergence:
Price made a higher high
RSI made a lower high
RSI is rolling