- Key Support Bounce: Ethereum just bounced off a historically reliable support zone that marked past macro bottoms since 2017, possibly signaling the start of a new bullish phase.
- Strong Monthly Surge: ETH has climbed nearly 40% in the past month, now trading around $2,512 with a market cap of $303 billion and high daily trading volume.
- Bullish Setup: Analysts are eyeing a potential move toward $2,600–$2,800 if this rally follows historical patterns, though confirmation is still needed to call it a full reversal.
Ethereum just bounced off a key support zone that, according to some folks watching the charts closely, has marked every major ETH bottom since way back in 2017. One of those analysts, Merlijn The Trader, says this zone’s “green glow” has a track record—and it’s flashing bullish again.
He dropped a weekly chart showing three separate times Ethereum tagged this level and then, boom—massive rally. His take? “This time won’t be different. Let the rally begin,” he posted.
ETH Price Action Looks Strong—For Now
Right now, Ethereum is holding around $2,512. That’s up almost 40% in just a month, which is wild considering it was trading below $1,900 not long ago. This might be one of its strongest monthly runs in 2025 so far, and traders are definitely paying attention.
ETH’s market cap sits at roughly $303 billion, and daily trading volume is floating around $13.1 billion, according to CoinMarketCap. So yeah, people are jumping back in.
A Chart With History Behind It
The big idea from Merlijn’s analysis is that this isn’t just any bounce—it’s the kind that’s historically triggered some of Ethereum’s biggest bull runs. This support band has been around for a while, and every time ETH hit it, it was a springboard to new highs.
If things play out like they did before, Ethereum might be heading for the $2,600 to $2,800 range pretty soon. But let’s not get ahead of ourselves—confirmation is still needed, and crypto’s never been shy about faking people out.
Bottom Line
Momentum is heating up, and sentiment’s clearly shifted in Ethereum’s favor. Whether it sticks the landing or stumbles again, this bounce off that historical zone might just be the start of something big… or at least something worth watching.
