ETH HITS KEY SUPPORT

Ethereum has reached a long-awaited key support level on the weekly ETH/BTC chart, around 0.03090 BTC. I am buying more - a lot more.

This level has been marked on my chart dating back to early 2021, and its retest is a crucial moment for the pair. This is where the liquidity lives. The recent price action shows Ethereum declining steadily to this region, suggesting a test of buyer strength.

The descending volume during this downtrend hints at decreasing selling pressure, a potential signal that a reversal or bounce may occur. However, if this support breaks decisively, the next logical support zone lies much lower, around 0.02750 BTC, making this level critical for bulls to defend.

For traders, this key level presents an attractive entry point for long-term accumulation, provided the support holds. Watching for bullish divergence on lower timeframes or a decisive weekly bounce with strong volume could confirm a reversal. Caution is warranted, as the ETH/BTC pair remains in a broader downtrend.

Trump’s team has aggressively been buying Ethereum the past few days.