✅ Observations from the Chart
1. Long-Term Support Zones:
• Three key areas are circled (around 2016–2017, 2019, and 2024–2025).
• All three touch similar levels, around 0.022–0.024 BTC/ETH, indicating a strong historical support zone.
2. Previous Rebounds from This Level:
• Each time price hit this zone in the past (2016 and 2019), it triggered a strong upward movement, suggesting this level has historically served as a launch point for bullish trends.
3. Volume Observation:
• Trading volume has significantly declined from 2022 to 2025, which could indicate a period of accumulation.
4. Current Price Level (July 2025):
• ETHBTC is currently hovering near this long-term support area, which may suggest another potential rebound—if the support holds.
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📈 Trend Outlook
Short to Medium Term:
• Still in a downtrend, as seen from the consistent decline since late 2021.
• However, the downtrend appears to be losing momentum, with price consolidating near support and lower volume.
Long Term:
• If the 0.022 BTC/ETH support level holds, there is potential for a trend reversal similar to previous cycles.
• Look for confirmation through bullish divergence on indicators like RSI or MACD.
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🔍 Risks / Caution Points
• If ETHBTC breaks below this key support level (e.g., under 0.020), it could lead to further downside.
• Rising Bitcoin dominance may also weigh down ETH performance relative to BTC in the short term.
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🧠 Summary
• ETHBTC is testing a critical long-term support zone.
• If the support holds, a bullish reversal could occur, presenting a potential accumulation opportunity.
• However, do not underestimate the risk of a breakdown below support—this could result in a continuation of the bearish trend.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.