Ethereum: Accumulation Zone at BTC Support Level

Ethereum presents a clear accumulation zone according to trader @CryptoMichNL, with the asset lagging for years yet serving as core infrastructure for the on-chain ecosystem.

Price action over recent months stems primarily from macroeconomic drivers rather than pure Web3 events, driven by the established negative correlation between Ethereum DeFi negative correlation with US Treasury bond yields and government bond returns.

On the 4h chart Ethereum trades at $2117.17 inside Bollinger Bands with upper resistance at $2158.2, while EMA50 at $2130.97 acts as immediate resistance and EMA200 at $2219.77 caps the broader structure; the neutral RSI at 52.6 paired with MACD golden cross at -3.65 signals building bullish momentum that favors a measured test of the $2031.11 lower band before continuation.

This zone aligns precisely with the higher-timeframe Ethereum BTC trading pair support levels 0.0325 rejection target, positioning the current range as the logical entry for institutional accumulation ahead of the anticipated macro pivot.