See Ether here and notice the last move, clearly a shakeout. Some participants might have been sitting on over-leveraged positions. These participants are no longer part of the market, which frees the market to move forward.
A desiring situation would be a move below $2,000 as this would make for a very exquisite buy.
Ethereum is a strong buy below $2,000 just as Bitcoin is a very strong buy below $70,000. So far though ETHUSDT continues to trade above $2,000, showing how traders are ready to buy everything possible at the least sign of sellers pressure. This is all good.
The main low sits at $1,748. To reach this level a 16% drop is needed, which would be a major crash.
After four days of bearish action, ETHUSDT is down 14% which is already a significant number, a strong retrace. But, it can go lower.
While the market continues bullish, based on the rising channel and higher highs, there is plenty of time and space for further fluctuations. These should be viewed as market noise and can be used for accumulation-spot.
It might be early, but I am recommending buy at current levels. Do you agree?
Namaste.