$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.