This is yet another classic scenario of a sharp rebound following a fake breakdown! Currently, the prevailing view is that this sudden drop in ETH is a bear trap designed to accumulate positions
$ETH may be repeating its 2025 AMD fractal.
The range breakdown is in, and the manipulation wick looks familiar.
If $ETH reclaims the range, the next expansion could target $3.6K first, with $5K+ on the bigger picture.