Is Ethereum (ETH) in a Prime Buy Zone?

As the crypto market moves into a potentially precarious position on Monday morning, some cryptocurrencies are approaching good buy zones. It’s a case of buying if you have conviction, but watch out if this bull market slips further into the red.

A bounce for $ETH from support zone is likely

Source: TradingView

The $ETH price is down more than 5% so far on Monday morning. Is there more downside to come? This is quite possible, but as can be seen in the 4-hour chart above, if the price does come inside the support zone, it looks like a buy, especially given that the bottom of the descending channel is also lending its support. 

At the bottom of the chart, the Stochastic RSI indicators are hitting the bottom, and so a bounce back up should be incoming. 

Rising 200-day SMA also to lend support

Source: TradingView

The daily chart illustrates how the $ETH price has traversed inside of the descending channel/bull flag. It can be seen that there is the possibility of a dip down to the bottom of the horizontal support, and that this may coincide with the rising 200-day simple moving average (SMA). a bounce would appear likely if this took place.

At the bottom of the chart, the indicator line in the RSI can be observed to be within a triangle pattern. A rebound to the top of the triangle would be the next logical move, but if the price falls through the triangle and confirms below, this would be a concern.

Bullish set-up for $ETH in the weekly time frame

Source: TradingView

If worried about the crypto bull market, one only has to look at a weekly chart for the $ETH price to see what is potentially a fantastic set-up. The huge run-up that $ETH put in from April to August 2025 successfully put in a new all-time high. 

It can be observed that the consolidation period since then has formed a bull flag, of which the bottom trendline could be tagged again this week. On top of this, an ascending trendline runs through the support zone, and could also be retested.

The foot of the chart reveals that the Stochastic RSI indicators are down almost at the bottom of their limit. Once these indicators turn back around, the next potential leg of the $ETH bull market can begin. 

The measured move for the bull flag is out to $7,000 – let the bull market recommence.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.