ETH at Critical Support — Real Bottom or Value Trap?

ETH is stuck in a descending structure, trading below every major moving average. From its ATH of $4,946, it is now around $1,950. That is a 60% drop.

Bull Case: This Is The Bottom

Short-term stabilization is visible at current support. Volume is drying up (seller exhaustion?), and RSI has been in oversold territory for a while. Historically, ETH recoveries from "everyone has given up" levels are VIOLENT. 2018 bottom at $80 went to ATH $4,900. Those who bought the fear retired in the greed.

Bear Case: This Is A Trap

Higher timeframe structure is still bearish. Below all key MAs. And the most dangerous part: the ETH narrative is weak right now. Solana is eating market share, L2 fees are crushing mainnet revenue. If support breaks, next stop could be $1,500-$1,600 range.

0xShadow Take

Personally still bullish ETH long-term, but timing is everything. DCA at these levels makes sense for a 1-2 year horizon. But going all-in here? Too risky. Watch $1,900. Hold = bullish continuation potential. Break = run.