Peter Smith
⬤ Ethereum has been building a case for a long-term bottom after bouncing hard from what many are calling a generational demand zone. The price action lately tells a different story than the extended selloff we saw before—ETH is finding its footing and shifting into recovery mode. What's catching attention is how demand keeps showing up at lower levels, suggesting traders are coming back after sitting out the downside.
⬤ Since that bounce, ETH has been putting in higher highs and higher lows, which is exactly what you want to see when a market's trying to turn things around. This isn't some explosive rally driven by hype—it's been more methodical, pointing to real accumulation happening in the background. Price has worked its way back toward $3,300 and is now sitting just underneath a clear resistance level, with volatility tightening up as the market digests the recent move.
⬤ Every time ETH has pulled back during this phase, buyers have defended those dips, which tells you they're still interested at lower prices. Each pullback has held above previous support levels, keeping the overall recovery structure intact. The volume tells the same story—stronger on the way up, calmer during consolidations. That's what you typically see when a market's trying to build something sustainable rather than blow off steam.
⬤ This matters beyond just Ethereum because ETH often sets the tone for how the broader crypto market is feeling about risk. When you see sustained higher lows and price coiling beneath resistance like this, it usually means the market's waiting for a catalyst to pick a direction. Sure, there's still resistance overhead that needs breaking, but the fact that dips keep getting bought reinforces the idea that the long-term bottom thesis might actually hold up as ETH continues to consolidate.
Peter Smith
