$HIGH has broken down from its ascending channel, #signaling weakening bullish momentum after failing to sustain higher lows. $HIGH is now compressing below the former channel support and struggling to reclaim the EMA/SMA #cluster , which suggests #sellers are gaining control while upside attempts are getting capped around the supply zone.

If $HIGH loses the current support area, continuation to the downside becomes more likely, with lower levels acting as the next magnet. #Bullish recovery would require a strong reclaim back above the broken channel and key moving averages, but until that happens, the structure favors caution and a #bearish bias.