Peter Smith
⬤ Ethereum is currently changing hands around $2,118 after sliding back from recent highs, landing right in the middle of what many see as a crucial support zone. The $1,800–$2,200 range is drawing attention as a potential area where the bleeding stops and buyers start showing up again.
⬤ Looking at the chart, ETH has dropped considerably from its earlier peak near $4,956 and is now testing the upper edge of this support band. What happens next matters—if the price finds its footing here, it could mark the beginning of a turnaround. This zone is being treated as a key battleground where demand might finally catch up with supply.
⬤ If Ethereum manages to stabilize and spend some time inside this range without breaking lower, we could be looking at the start of a recovery phase. Under that scenario, a push back toward the $4,000–$5,000 area over the coming months isn't out of the question. But that all hinges on the price actually holding this support and building some momentum from here.
⬤ How Ethereum behaves in this zone will tell us a lot. Staying above it would strengthen the case that a bottom is forming. Dropping through it would flip the script and point to more downside ahead.
Peter Smith
