Ethereum is testing a critical support confluence below $2.4K as its correction continues. Buyers have defended this area with several sharp rebounds, but the persistent formation of lower highs suggests that selling pressure has not yet eased. A decisive daily close below $2.36K and the ascending channel support would weaken the recovery structure and increase the risk of a deeper correction toward $2.2K. A significant liquidation cluster sits around $2.15K-$2.2K, adding significance to that technical demand area.
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