Ethereum Eyes Macro Bottom As Key Level Comes Into Focus: Analyst

Crypto analyst Minga suggests Ethereum is trading in a macro range between $4,946 (ATH) and $878 (2022 low), with ETH currently around the psychological $2,000 level. The analyst expects one more leg down to complete a cycle bottom, targeting $1,190-$1,148 as the most likely macro bottom zone.

• →Ethereum is consolidating in a multi-year range between $4,946 all-time high and $878 bear market low.
• →ETH failed to reclaim the key $2,151 pivot level, keeping bearish continuation on the table.
• →First downside target is $1,537 where weekly equal lows create a liquidity cluster.
• →Analyst expects a true cycle bottom to form in the $1,190-$1,148 zone after sweeping $1,384.
• →A successful reclaim of $2,151 could trigger a move to $2,395 where a fair value gap exists.