Ethereum Bounces From Macro Support Zone — Is a Major Rally Coming?

According to Merlijn The Trader, this green zone has marked every macro bottom for ETH since 2017, and each time, it was followed by a powerful rally.

The weekly chart shared in his analysis highlights three prior instances where Ethereum touched this support range before exploding to new highs. “This time won’t be different,” he wrote. “Let the rally begin.”

Current Market Status

At the time of writing, Ethereum is trading at $2,512, up 39.3% over the past month, according to CoinMarketCap data. The recent surge from under $1,900 earlier in May has been one of the strongest monthly performances ETH has seen this year.

Ethereum’s market cap currently sits at $303 billion, with 24-hour trading volume around $13.1 billion.

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Technical Setup Aligns With Bullish Sentiment

Merlijn’s long-term chart underscores a strong technical foundation for ETH’s price. Historically, when Ethereum bounces off this upward-trending support band, it enters extended bullish phases. With the macro pattern aligning once again, bulls are watching closely for confirmation of continuation—especially as Ethereum eyes the $2,600–$2,800 range next.

Whether this rally follows the historical script remains to be seen, but momentum and sentiment are once again on Ethereum’s side.

The post Ethereum Bounces From Macro Support Zone — Is a Major Rally Coming? appeared first on Coindoo.