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$ETH JUST MADE A CRITICAL MOVE
Price lost the rising channel and slipped into a short term descending structure. That shook weak hands fast.
The bounce from the 2750 to 2850 demand zone matters. Buyers are clearly defending this area and refusing to give it up easily.
Right now, price action looks corrective. Resistance sits near the broken channel support, and that level is acting like a wall.
If ETH reclaims the old channel, momentum flips back bullish quickly. If it fails, downside pressure stays alive.
This is a decision zone. Big move loading.