Artem Voloskovets
⬤ Ethereum has reached what traders are calling a "make-or-break level"—the same zone that caused every major rejection this year. ETH is now retesting this area as potential support, making it one of the most important technical spots on the chart right now.
⬤ The regulatory environment isn't helping matters. There's ongoing chatter about potential tax changes and compliance requirements for digital assets that could squeeze smaller players out of the market. With that backdrop, Ethereum's ability to hold this support level becomes even more critical as traders watch to see if technical strength can override regulatory headwinds.
⬤ The chart tells the story clearly: ETH kept getting rejected at this resistance band earlier in the year before finally breaking through during the summer rally. Now, weekly candles are sitting right back in that same zone—a classic retest of old resistance as new support. If buyers step up and defend this area, history suggests a strong rally could follow. But if the level cracks, expect further downside similar to what we've seen in previous pullbacks.
Artem Voloskovets
