The channel is broken—the bear is coming. Let’s wait and see whether we can get it back next week; if we can’t, then we’ll have to keep probing further downward.

$ETH BROKEN THE CHANNEL FLOOR — BEARS ARE TAKING CONTROL

I'm seeing a major breakdown from a multi-year ascending channel, and that's a strong bearish signal. Price failed to hold the lower boundary and sellers stepped in aggressively.

This structure had supported price action for years, but the recent rejection and breakdown suggest momentum is shifting in favor of the bears.

If sellers maintain control below the channel, Ethereum could continue moving toward lower support zones. The next few weekly closes will be critical to determine whether this is a true breakdown or a temporary deviation.

For now, the market remains under pressure, and I'm watching closely for either a strong reclaim of the channel or further downside continuation.