I'm bullish on $ETH , and I'm basing this entirely on technicals—which I personally trust the most.
The market structure is clearly bullish. This became evident and was confirmed back in May–June 2022, when price tapped the $1400 zone. That move validated a new bullish range. Following that, price dipped twice into the extreme discount area of this range (around the $1200 level), which only added more confluence to the setup.
From there, we've seen a steady push toward the premium side of the range (above $3700), although ETH hasn’t printed a new all-time high. Instead, it’s tested the $4000 zone three solid times. To me, this is a major sign—this area is loaded with liquidity and serious market activity (mainly selling). That kind of behavior usually signals a key level that institutions care about.
Now, we’re seeing ETH flirting again with the discount area of an internal bullish range. I call it internal because price broke and closed above the $3580 level, reinforcing the bullish context.
All of this makes ETH very appealing to me as a buy at current levels.
Feel free to share your thoughts!
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ETH
4,930.57
+3.78%