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$ETH is currently testing a key demand zone, and price action suggests buyers are still defending this area after the recent short-term downtrend.
The reaction from the ~$2240 region shows clear interest from spot and dip buyers, preventing deeper breakdowns for now.
As long as ETH holds above this support cluster, the structure favors a gradual recovery phase, with potential upside targets around $2360–$2400 where previous resistance sits.
Overall, this looks less like distribution and more like early accumulation — but confirmation still depends on whether buyers can sustain momentum above the current support base.
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