3 weeks ago
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Key Takeaways
- ETH holding long-term ascending trendline from 2022 on the monthly chart.
- Every major correction has formed a higher low at this structure.
- MA 50 at $2,419.73 remains key resistance, limiting recovery attempts.
- RSI stabilizing well below historical overbought extremes.
The Long-Term Structure Is Still Alive
The monthly chart of Ethereum shows something that is difficult to ignore. The ascending support line formed in 2022 continues to hold price to this day. That line stopped the latest significant decline and triggered a strong upward reaction. This matters because at every major selloff from the highs in recent years, Ethereum has first formed a bottom around that structure before beginning a new recovery. A similar pattern is visible now.
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