Ethereum has reached a crucial support cluster that will likely define price momentum in the coming weeks.
Analyst Michaël van de Poppe says the deciding factor is whether ETH can hold its current range and bounce.
The primary question for the upcoming weeks is whether $ETH will find support here and bounce back up.
If that’s the case, then it would mean that $ETH will outperform $BTC.
If not, we’ll probably see significantly lower numbers for the entire market. pic.twitter.com/0Q7WZNjkoJ
— Michaël van de Poppe (@CryptoMichNL) November 24, 2025
A recovery from these levels could spark a phase of ETH outperforming Bitcoin. Failure to defend the zone, however, may open the door to a broader market downturn.
Bitcoin Stabilizes — But the Trend Depends on Key Levels
Bitcoin is also sitting on a pivotal support area. Van de Poppe expects BTC to consolidate around current prices, ideally revisiting the $85,500 range to close the CME gap before attempting a move toward the 20-day MA at around $95,000.
It’s very likely that $BTC will stabilize and consolidate around this area.
Preferably I’d like to see a test at the $85.5K area to close the CME gap and then towards the 20-Day MA at $95K. pic.twitter.com/Z0rc8Atsmn
— Michaël van de Poppe (@CryptoMichNL) November 24, 2025
If buyers fail to defend support, sentiment could quickly deteriorate, strengthening bearish momentum across the market.
Record-Low Exchange Reserves Signal Long-Term Accumulation
On-chain data paints a contrasting picture beneath the volatility. Crypto Rover highlights that Bitcoin exchange reserves have dropped to new historic lows, according to figures from CryptoQuant.
🚨 Bitcoin exchange reserves have dropped to new record lows! pic.twitter.com/OgUImK1Oor
— Crypto Rover (@cryptorover) November 24, 2025
As BTC on centralized exchanges continues to decline, the available supply shrinks — a pattern commonly associated with long-term accumulation rather than distribution.
Market Outlook Hinges on the Next Move
With both ETH and BTC sitting at decisive levels, traders, institutional desks, and long-term holders are tracking the same inflection points. A strong rebound could reignite bullish sentiment and lead to fresh momentum in altcoins. But a break lower risks triggering another wave of sell-offs and an extended corrective phase across the crypto market.
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Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.