ETH just broke down hard.
Price is 1,856, down over 6% on the day after a sharp sell off. The drop sliced through intraday structure and tagged 1,847 lows.
The 200 EMA sits near 1,980. Price is trading well below it, confirming short term bearish control.
2,000 was rejected.
1,970 failed.
1,850 is now critical.
If 1,850 breaks cleanly, downside can extend toward 1,800. If it holds, expect a relief bounce back toward 1,920–1,950.
Trend bearish.
Momentum heavy.
Volatility elevated.