Saad Ullah
● Ethereum has come back to what he calls the "line of no return" — a rising support trendline that's been key since 2021. His chart shows five times ETH touched this line before (marked with green circles), and each time it bounced hard. This trendline has basically been holding up Ethereum's entire market structure.
● According to Merlijn The Trader, "Now the crowd screams panic. But the structure screams bounce." His chart also shows a major bear trap in 2024–2025, when ETH briefly dropped below the line before rocketing back up. It's a reminder that breakdowns here can be fake-outs.
● Meanwhile, the crypto industry is dealing with proposed tax changes that could hit blockchain companies hard. Analysts worry that rushing these rules could bankrupt smaller firms and push talent overseas. This regulatory uncertainty is adding pressure right as Ethereum tests this make-or-break support level.
● Industry groups are pushing back, suggesting higher profit taxes instead of new fees on mining, staking, or exchanges. They argue this would be less damaging to infrastructure while still raising government revenue.
● Lawmakers are also considering changes to profit tax rules, personal income tax, and corporate reporting requirements. Experts warn these could hurt jobs in the sector and actually reduce tax revenue over time. All of this makes Ethereum's current position even more significant — it's not just a chart pattern, it's happening while the whole industry faces major uncertainty.
Saad Ullah
