$ETH is currently at a critical junction on the Monthly (Mo) timeframe. After a period of heavy distribution, price action is returning to a multi-year trendline that has historically defined the "Floor" for ETH.
🔑 Key Technical Observations:
The Horizontal Ceiling: We have a clear and established double-top resistance at the $4,955.76 level (All-Time High). This remains the ultimate magnet for the next major bull expansion.
The Diagonal Floor: The red trendline originating from the $215.90 low is currently being tested. This is a "Make or Break" zone for long-term investors.
Support Zone: Current price action around $1,906.39 is sitting right on structural support. As long as we hold above the $1,750–$1,850 liquidity pocket, the macro bullish structure remains intact.
The Target: The vertical arrow highlights a massive potential recovery. If the current monthly candle closes with a strong wick (showing buy pressure), the path toward reclaiming the $3,000 and eventually the $4,955 level opens up.
💡 The Strategy:
We are currently in a Value Zone. While the short-term sentiment might be "fearful," the monthly chart suggests that we are retesting the very foundation of the previous bull runs.
Note: Watch the monthly close carefully. A solid hold here confirms that the "Big Money" is still protecting these levels.
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