ETHUSD showed revival and started ranging. It looks like a successful test of testnet Merge was the reason for optimism. However, fundamentals are working, and many asset managers will cut positions on crypto assets. Many funds and companies in crypto environment may not survive this crisis. Crisis is coming and many small hodlers will be forces to cut their investments in crypto. That is way after short ranging or even uptrend ETH will be under pressure of market and most possibly price will go down.