Peter Smith
⬤ ETH is sitting right at the $2,100 level — and here's the thing, this isn't just any random price point. The weekly chart shows Ethereum hugging the lower edge of a long-term price structure that's held movement for years. This $2,100 area is where traders expect price to find a floor before any meaningful rally can start.
⬤ Looking at the bigger picture, ETH has been grinding lower but hasn't actually broken out of its established range. The $2,100 level lines up with a horizontal support region that's triggered strong reactions before — so the fact that price is testing it again makes this moment pretty significant.
⬤ What's actually happening here is a classic corrective phase, not a panic sell-off. Ethereum has been bouncing around within its long-term range, and this latest dip is simply a retracement back toward that key support. How price behaves right around $2,100 will likely set the tone for what comes next.
⬤ Why does this matter beyond just ETH? Because Ethereum is still the market's main mood indicator. When it tests major long-term support like this, the whole crypto space tends to react — volatility picks up, and traders start positioning for the next directional move. Right now, all eyes are on whether ETH holds $2,100 or keeps sliding.
Peter Smith
