Ethereum price bearish reaction Ethereum / TetherUSBINANCE:ETHUSDTThe_Alchemist_Trader_Ethereum price action has recently rejected from high-timeframe resistance at $2,343, a level that continues to act as a strong supply zone. The rejection was impulsive to the downside, indicating aggressive selling pressure entering the market at this region. Following the rejection, ETH has also lost VWAP support, which further weakens the short-term bullish structure. Losing VWAP often signals that price is trading below its average value, shifting momentum in favour of sellers and increasing the likelihood of continued downside. Price is now approaching the Value Area High (VAH) of the current trading range, which serves as a critical level to watch. If ETH fails to hold this level and loses acceptance below it, it opens the probability for a rotational move deeper into the range. From a technical perspective, a breakdown from VAH would likely lead to a move toward the Value Area Low (VAL), with the $1,937 region acting as the next key downside target. In the immediate short term, the structure suggests a continued rotational environment, with bearish pressure building unless buyers step in with strong volume to reclaim higher levels.