Eseandre Mordi
⬤ Ethereum ($ETH) is holding firm above its 2018 support level against Bitcoin ($BTC), with buyers consistently stepping in to defend this crucial zone. The price action shows multiple bounces from this area, proving there's solid demand keeping ETH afloat. This strong foundation suggests Ethereum has built a reliable base that could fuel upward movement if the support continues to hold.
⬤ ETH has been forming higher lows lately—a classic sign that selling pressure is drying up. When you see higher lows developing, it usually means the market is done going down and is instead building up strength. This consolidation phase often happens right before prices break higher, especially when there's strong buying interest at key support levels like the 2018 zone. The combination of defended support and rising lows points to potential upward momentum brewing beneath the surface.
⬤ The active buying at the 2018 support combined with the pattern of higher lows indicates Ethereum is in a healthy consolidation that could transition into a rally. If ETH keeps trading above this support zone, it might start outperforming Bitcoin in the weeks ahead. The increased buying activity around these critical price levels strengthens the case for a sustained recovery in the ETH/BTC pair.
Eseandre Mordi
