$ETH is in a clear downtrend on the timeframe, trading inside a descending channel since the November high. Price is now testing the lower trendline + horizontal support around $2,790–$2,810 (previous breakdown level and 0.618 Fib area). Volume is drying up, and we’re seeing a small bullish divergence on RSI. Bearish continuation remains the path of least resistance, but this zone has a high probability of at least a relief bounce or short-term reversal.