Ethereum is currently undergoing a significant market movement, showing signs of a bullish reversal as it approaches a critical support level around $3,050. This level corresponds to the Value Area Low in volume profile analysis, indicating a potential rebound after a slight drop below previous lows to capture liquidity.

Traders are advised to place limit orders at this support level to take advantage of the expected upward momentum. In terms of market dynamics, Bitcoin dominance has been rejected at its resistance line, with the daily candle closing below this threshold. This development has generated increased optimism for altcoins, suggesting a potential shift in market focus.

Traders are recommended to closely monitor these trends as the market landscape evolves. For those interested in real-time insights, participation in live trading sessions is suggested, where premium signals and strategies are shared to navigate the current market conditions.