Peter Smith
⬤ Ethereum is back at its long-term rising support trendline—again. The weekly chart shows ETH pulling back to this upward-sloping line, which has acted as a critical foundation during past market corrections. This marks the third major test of this structure, and so far, it's holding.
⬤ The chart clearly shows three significant bounces off this trendline, each marked with green highlights. For traders watching the bigger picture, these repeated tests reinforce the idea that Ethereum's macro structure remains solid. As long as ETH stays above this support, the broader uptrend stays intact.
⬤ While there's no forecast or fundamental analysis here, the technical setup is worth noting. Long-term support trendlines like this one are key reference points for assessing trend strength and market sentiment—especially when navigating higher-timeframe conditions. For now, Ethereum's macro trend looks steady as long as this line continues to hold.
Peter Smith
