$ETH is trading around 1,646 after a brutal capitulation that tagged the descending channel's lower boundary near 1,508. Price has been respecting this descending channel structure since the 3,000 highs in late January, and the latest flush wicked perfectly into the channel low before recovering with buyers stepping in. The structure remains intact with the channel boundaries still defining the broader trend.
A clean hold above 1,595 keeps the recovery momentum intact and opens the door for a continuation back toward the 1,800–1,900 range. A breakdown below 1,508 on an 8H close would invalidate the channel structure and accelerate the downtrend with no clear support below. Reclaiming 1,745 would confirm the bullish reaction off the channel lows.
ETHUSDT
Trvl
1,688.09
+3.65%
HMSTRUSDT
Trvl
0.0002998
+15.21%
STRAX
0.01047
-10.28%
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