ETH’s been dancing around $3,000 lately. After a brief push above it, we’re back near $2,970 — traders are asking: is this the “generational bottom” or do we see one more leg down?
The Whale Cost Basis – $2,720
On-chain data shows the big players are ready to defend around $2,720. That’s basically the average buy-in for long-term whales. Historically, when ETH hits this zone, buying ramps up to protect positions. So even if we get a short-term dip, downside from here looks capped around 7%.
Chart Signals – Rounded Bottoms & Reversals
Weekly charts are forming massive rounded bottoms — these patterns have kicked off multi-month rallies before.
Monthly charts show inverse head-and-shoulders and double bottoms — classic bullish reversals. Some analysts think ETH could surprise everyone later in 2026.
The 3.5-Year Cycle
ETH doesn’t follow Bitcoin’s 4-year halving; some say it’s on a 3.5-year rhythm. The bottom likely formed in Q4 2025, and now Q1 2026 could be the start of a new uptrend. The $3,000 battle is just part of the slow transition before a proper breakout.
TL;DR
$2,720 is the big “defensive wall” for whales. Charts are showing bullish reversal signs. If history repeats, ETH could be gearing up for a major 2026 move. But as always, nothing’s guaranteed — DYOR.
Question for the crew: do you see $2,720 holding as the ultimate bottom, or is one more dip coming before ETH takes off?
#GrayscaleBNBETFFiling #USIranMarketImpact #WEFDavos2026 #TrumpCancelsEUTariffThreat