Market structure overview
ETH is still moving within a well-defined descending channel, respecting both the upper trendline and the lower support area. The recent sell-off pushed the price back into a key demand area, where buyers have started to show interest again.
Key observation
Price action suggests that ETH may be forming a double bottom structure, occurring in parallel with a retest of RSI near its support area. This type of price and momentum alignment often appears near local reversals, especially after prolonged corrective moves.
What do you watch next
• Keeping the clean above the current demand area keeps the recovery scenario valid
• Recovering the short-term downward trend line will strengthen the continuation of the upward trend
• Failing to maintain support may open the door for another deeper pullback before any meaningful rise
Overall, this is a critical area where patience plays an important role. Confirmation is more important than speculation.
✅ Trade here on $ETH