Ethereum just bounced hard off the $1,400–$1,500 range low, a level that's been key support since mid-2022. While that bounce looks strong, let’s not ignore the macro picture.
ETH remains trapped in a multi-year range between ~$1,400 and ~$4,800. More importantly, it recently broke below the rising trendline that had been intact since the June 2022 lows. That’s a structural shift. Unless bulls reclaim $2,800–$3,000 cleanly and turn that region into support, this move is just a reaction inside a broader sideways chop.
A push above $3K could trigger momentum toward the upper range, but rejection here? That sets up another sweep of the lows. Range rules apply until proven otherwise.
ETH remains trapped in a multi-year range between ~$1,400 and ~$4,800. More importantly, it recently broke below the rising trendline that had been intact since the June 2022 lows. That’s a structural shift. Unless bulls reclaim $2,800–$3,000 cleanly and turn that region into support, this move is just a reaction inside a broader sideways chop.
A push above $3K could trigger momentum toward the upper range, but rejection here? That sets up another sweep of the lows. Range rules apply until proven otherwise.
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