#ETH is once again testing the support area, demonstrating resilience as it holds firm. Accumulation appears to be underway, hinting at potential upward momentum. A bounce from the support area towards the resistance line could be on the horizon.

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In conclusion, #Ethereum has exhibited a similar drawdown structure to #Bitcoin, albeit with notably shallower corrections since the #FTX lows, indicating resilience during pullbacks and reduced volatility in the digital asset space. However, Ethereum's deepest drawdown of -44% is significantly more severe than Bitcoin's -21%, highlighting its relative underperformance over the past two years, which is reflected in a weaker #ETH/#BTC ratio.

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#ETH experienced significant price movement as expected, increasing by over 30% since our entry. The surge is believed to be in anticipation of the ETH ETF approval date approaching. The next major resistance level is expected in the $3900-$4000 range.

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#ETH has rebounded from the support area as expected, signalling a positive trend for the altcoin market. ETH often leads the way for altseason. We may expect further upward movement, with the major resistance level at $4000. A break above $4000 will be bullish.

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#ETH is currently holding the support area, indicating a positive trend. There might be some accumulation before the next upward movement. If you missed entering earlier, consider opening a long position at the support area.

Support Area: $3640-$3720

Resistance Area: $3950-$4000

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