While crypto markets remain defensive, the Ethereum price is attempting a short-term rebound inside a broader downtrend that still dominates the bigger picture. Ethereum price against USDT is trading around $1,960, deep inside a mature downtrend. The key point right now: the daily structure is clearly bearish, but short-term timeframes are trying to stage a rebound. This is classic bear-market action — violent countertrend bounces inside a broader down-leg.