$ETH on 4H is attempting a rebound after defending the 2234 demand zone, but structurally it’s still in recovery mode — not trend reversal yet. Current structure: Price = 2262 24H low = 2234 24H high = 2323 Technical read: MA5 = 2251 MA10 = 2272 MA20 = 2294 Price is now above MA5, showing short-term buyers are stepping in, but still below MA10 + MA20, which means broader momentum remains bearish-to-neutral until stronger reclaim. Key zones: 2234–2240 = critical support 2250 = short-term pivot 2272 = first resistance 2294 = trend barrier 2320–2330 = breakout confirmation zone Bullish scenario: Holding above 2250 and reclaiming 2272 could push ETH toward 2294. If 2294 breaks, rebound toward 2320+ becomes much more credible. Bearish scenario: If ETH loses 2234, the bounce likely fails and opens another liquidity sweep lower. That would confirm current move is only relief, not reversal. Momentum: Current candles show buyers absorbing the dump, but rebound strength is still weak compared to prior sell pressure. ETH needs higher low + MA10 reclaim before bulls gain confidence. Trading bias: Aggressive = scalp above 2250 Safer = wait for 2272 breakout Caution = under 2234 support loss Bottom line: $ETH is trying to build a base after the flush, and 2234 appears to be the near-term defense line. Short-term sentiment improved, but until 2272–2294 is reclaimed, this is still a technical rebound inside a broader corrective structure — stabilization first, reversal later.