Has ETH bottomed out? Is a rebound imminent? Looking solely at the weekly Fibonacci retracement level, ETH's price has fallen to the 0.382 Fibonacci retracement level, a strong gravitational pull zone, suggesting it has essentially bottomed out. However, ETH is merely a follower of BTC; it won't dare to rebound until BTC has bottomed out. Therefore, to determine if ETH has bottomed out and is poised for a rebound, focus on BTC. BTC's drop to 68K-70K essentially indicates a short-term bottom, and it's likely nearing it.