Friday extended Thursday’s liquidation through multiple composite distributions before rejecting 7558.25 and rebuilding late-session value near 7613.00.
ETH preserved downside control
The overnight decline continued Thursday’s liquidation. A test of Thursday’s 7709.50 Siege Control Line and session low failed from below, keeping sellers in control into Friday’s gap-down open.
ETH traded through the 7666.00 October 23 nVPOC, but overnight contact did not retire an RTH reference. The level therefore remained open into the regular-hours session.
RTH confirmed the downside extension
RTH opened at 7669.50 beside the overnight VPOC. The opening retest was immediately rejected, and sellers then formally covered the 7666.00 October 23 nVPOC during RTH. Friday’s open and high at 7669.50–7670.00 now define the lower edge of the open gap.
Price first checked the 7657.75 composite high-volume node, then entered the 7647.00–7627.00 composite low-volume corridor. The response near 7627.00 produced the first meaningful counter-rotation, but buyers could not sustain repair through the thinning composite structure.
The auction traversed successive lower references
Renewed selling covered the 7622.50 September 16 nVPOC, traded through the 7614.50 composite high-volume node and crossed the 7605.00 composite low-volume node separating the neighboring composite distributions.
The move then accelerated through the lower distribution and printed the session low at 7558.25. Price failed to gain sustained acceptance at the extreme, and the auction began building higher lows and higher highs away from the low.
Late trade rebuilt value near 7613.00
Price and value recovered upward from the 7558.25 lower extreme. Sustained late-session trade accumulated around 7613.00, pulling the developing RTH VPOC down from its earlier, higher location until it settled near 7613.00 into the close. That migration confirms where Friday ultimately found the greatest acceptance; it does not erase the structural damage left above.
OTF status: Daily one-time-framing down is confirmed ending at 7670.00. Friday established a new Siege Control Line at 7599.00. Weekly and monthly balance remain developing.
The decision area
7599.00–7627.00 — new Siege Control through Friday’s VPOC and the far side of the composite low-volume corridor.
Acceptance above
If buyers sustain trade above 7613.00–7614.50, the auction can repair through the now-covered 7622.50 nVPOC and test 7627.00, the far side of the composite low-volume corridor.
Acceptance above 7627.00 opens traversal of the 7647.00–7627.00 composite low-volume corridor toward the 7657.75 composite HVN. Continued strength brings 7669.50–7670.00 into focus. Acceptance through 7670.00 begins gap repair, with Thursday’s 7709.50 low marking completion.
If not: Rejection from 7613.00–7627.00 keeps value beneath the corridor and returns focus to 7605.00–7599.00.
Acceptance below
If sellers regain acceptance below the 7605.00 LVN and 7599.00 Siege Control Line, the auction leaves Friday’s developing value and reopens the lower composite through the 7584.00 LVN.
Sustained trade below 7584.00 puts Friday’s 7558.25 low back in play. Acceptance beneath the low exposes the 7554.50 lower composite LVN; response there must be assessed before extending toward deeper references.
If not: Rejection below 7599.00 and recovery through 7613.00–7614.50 favors rotation back toward 7622.50–7627.00.
Auction condition
Friday covered two open nVPOCs and auctioned through several established composite references before finding responsive demand at the lower extreme. Monday’s question is whether 7613.00–7627.00 can be reclaimed or whether value follows price into the lower composite.