$๐๐ง๐ ๐ถ๐ ๐๐ถ๐๐๐ถ๐ป๐ด ๐ฎ๐ ๐ฎ ๐น๐ฒ๐๐ฒ๐น ๐๐ต๐ฎ๐ ๐ฑ๐ฒ๐๐ฒ๐ฟ๐๐ฒ๐ ๐๐ผ๐๐ฟ ๐ณ๐๐น๐น ๐ฎ๐๐๐ฒ๐ป๐๐ถ๐ผ๐ป ๐ฟ๐ถ๐ด๐ต๐ ๐ป๐ผ๐....
$ETH has dropped 9% in the past week. down from recent highs, sitting around $2,065, and the market is torn. is this the bottom of the correction or is more pain coming?
here's the honest chart read. ETH is at a historically significant demand zone. multiple previous supports have clustered here going back months. the bulls need to hold this area or the next major support is significantly lower.
the macro backdrop is mixed. $BTC dominance is elevated which typically signals altcoins including ETH are still in risk-off mode. ETH ETF inflows have been inconsistent. and the fed's hawkish language has kept institutional risk appetite subdued.
but.... the commodity classification from SEC + CFTC directly benefits $ETH #. staking clarity, token wrapping clarity, regulatory certainty. that's a long-term tailwind the market hasn't fully priced yet.
the setup:
entry zone: $2,000 โ $2,100 TP1: $2,380 TP2: $2,650 TP3: $3,100 SL: $1,880 (daily close below)
this is a condition-based setup.
confirmation needed watch for BTC to
hold $68,843 and ETH to show a daily close back above $2,150 before sizing in. if BTC breaks down, ETH follows. manage risk accordingly.
not financial advice. DYOR fam โ
