The second-largest cryptocurrency hasn’t been at its best lately, plummeting by double digits over the last 30 days and trading far below its all-time high of almost $5,000 witnessed in the summer of 2025. However, the past 24 hours brought some hope for the bulls, as ETH rocketed from $1,800 to over $2,000. Some market observers believe a more profound rebound could be on the way, while others think the valuation has yet to reach its bottom. Ethereum (ETH) has soared by over 10% daily, currently trading above the $2,000 psychological zone.
However, it remains 30% down on a monthly scale, while its market capitalization has shrunk to approximately $237 billion. X user KALEO observed the asset’s recent performance and argued that it might be on the verge of a bounce. They assumed that ETH has formed a “clean double bottom off HTF support” and may be ready to spike above $2K. Merlijn The Trader also chipped in lately.
He claimed that ETH is sitting in a five-year demand zone, emphasizing that this area has historically acted as a place where investors accumulate rather than distribute. You don’t need the exact bottom. You need exposure before expansion. Big bases don’t drift. They reprice.
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