Many traders on Binance Square are calling this the bottom for Ethereum $ETH but the chart structure tells a different story.
$ETH has recently broken its major support level, and this breakdown came with strong selling volume, showing clear market participation on the downside.
Right now, price is trading in an area with no strong nearby support, which makes the structure more unstable and open to further volatility.
On top of that, a Fair Value Gap (FVG) has formed on the 1D timeframe, which often acts as an inefficiency the market tends to revisit during strong moves.
📊 Key points:
Major support has been broken
Breakdown confirmed with volume
No strong support nearby
1D Fair Value Gap still open
Overall, $ETH is in a highly sensitive zone, and the market is likely to stay volatile. Traders should avoid rushing into calling a bottom without confirmation.
#Eth #crypto #binancesquare #trading #Ehereum
