3 days ago
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Key Takeaways
- ETH lost its rising channel on July 23.
- The former support now acts as resistance.
- Long liquidations reached $76.9 million.
- Spot flows remain negative over 12 hours.
- The wider trend has not fully reversed.
ETH broke below the channel on July 23 and has now remained outside it for five consecutive daily sessions. Recent rebounds have tested the former lower boundary from below, but buyers have been unable to move price back inside the structure.
The latest rejection also came from the $1,950 area, just beneath the 100-day simple moving average near $1,950. That leaves Ethereum back near the 0.382 Fibonacci support around $1,870.
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