Natural Gas - Is the downside really limited from here?

Been watching $NG for a bit now, and seeing it hover around this 5.895 level, even dipping to 5.85 today, makes me wonder if everyone is a bit too complacent about the downside from here. I know the general sentiment is that we're near a bottom, especially with winter approaching and the whole energy crunch narrative, but I'm just not seeing a super compelling catalyst for a massive rebound. Yes, supply issues are real, but demand destruction is also a thing, and we've already seen some pretty big moves up. It feels like a lot of the 'easy money' in the long trade might have already been made, and now we're just ranging.

Am I missing something fundamental here? It feels like the risk-reward for shorting (or at least avoiding going long) might be more attractive than popular opinion suggests, even with the intraday low of 5.85 holding for now. Happy to be proven wrong, so hit me with your best arguments for why $NG can't drop much further from these levels.