Ethereum (ETH) is once again hovering around a long-term trendline that has acted as a crucial support zone for nearly ten years. This multi-cycle support level has historically marked major market bottoms and triggered strong bullish reversals — and ETH is currently testing it again.
As of now, Ethereum is trading near $3,000, with a 24-hour trading volume of $14.6 billion. The asset is up 7% over the past week, though it has slipped slightly in the last 24 hours, according to CoinGecko.
ETH retests a multi-year support area
A chart shared by analyst Merlijn The Trader highlights ETH’s price sitting inside a green support band that has been relevant since 2016. This zone has consistently served as the starting point for massive rallies.
Historical patterns show:
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2017: ETH bottomed in the same zone, retested support, and then surged to new highs.
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2020: The same pattern occurred—bottom, retest, then rapid expansion into a full-blown bull cycle.
Crucially, this trendline has never been broken since it was first formed, making its current retest highly significant. ETH is once again showing behavior similar to previous cycles where consolidation around this zone preceded major moves.
Momentum signals stabilizing pressure
Short-term technical indicators also suggest ETH might be shifting out of its bearish phase. The daily RSI is at 40.76, still below the neutral 50 mark but recovering from recent lows—an early sign that selling pressure may be cooling.
A rebound in RSI from this region has historically aligned with trend reversals or at least temporary relief rallies.
What comes next?
Traders are now watching whether:
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ETH holds this decade-long support zone
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Momentum continues improving
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Market structure mirrors earlier cycle expansions
While each cycle is different, ETH repeatedly bouncing from this same long-term level is a pattern analysts are paying close attention to.
