The main signal in ECILC is the alignment between weak earnings-related news and a stacked sell wall on the order book. The 2026/03 loss update, together with analyst commentary, supports the medium-term fade from 93.3 toward the 85.75 area. Despite elevated recent volume, the last two daily closes were weak, which shows that upside attempts are losing momentum. Today’s intraday tape stayed compressed around 85.8-86.1 and repeatedly stalled near 86, so no meaningful upward velocity was formed. On the order book, large offers at 86.00, 86.55, and additional clusters around 86.40-86.45 sit above comparatively smaller demand near 85.75 and 85.50, creating a short-term ceiling. The high session volume without range expansion suggests more distribution than directional continuation. On the weekly view, price has slipped back to the lower part of the prior strong range, confirming a loss of trend speed. The key anomaly is that heavy activity failed to secure acceptance above 86, while supply kept absorbing each rebound.