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This is the area to accumulate #Ethereum .
It's been lagging behind for years, but it's the infrastructure layer that is required for almost everything within the on-chain ecosystem.
The past months, the price of Ethereum has gone down primarily due to macroeconomic reasons.
Yes, it moves more based on that rather than solely intrinsic events within the Web 3 ecosystem.
The reason for that is the there's a negative correlation between DeFi and yields on government bonds.
If the yields go up on government bonds, there's less of an appetite for holding DeFi or placing your liquidity there and that has a negative impact on the price of the underlying asset: Ethereum.
That's about to chance, and from a technical standpoint, it's currently approaching a higher timeframe support level.
This support level is the one I've been aiming for since the rejection at 0.0325 $BTC and that's why I think that building an Ethereum position within this range is not a bad place to start.
$ETH
{spot}(ETHUSDT)