$ETH  has now tapped into the $2,620–2,630 zone a level I've been highlighting as the next key downside target. This region also lines up with the lower boundary of the trend channel, making the reaction here worth watching closely.

ETH

2,819.96

+2.65%

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I’m still following the idea that this zone could mark the beginning of a potential bounce, possibly forming circle wave 4 within the current structure. If that plays out, the next resistance area sits between 3,170 and 3,553, aligning with the top of the channel.

For now, ETH is sitting at a strong support level, but structure confirmation is still needed. A clear reaction or clean 5-wave move upward would be the signal to start treating this bounce as a valid wave 4 setup.