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$EGLD is still stuck in a clean descending channel.
Lower highs, lower lows. Bears have controlled the structure so far.
Price just tagged the lower boundary and bounced. That shows short term demand stepping in at this zone.
This move looks corrective, a rebound toward the channel midline or upper resistance, not a trend shift yet.
Unless EGLD breaks and holds above the channel, the bigger picture stays bearish.
Relief bounce or trap. Structure will decide. 🔥