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One exhibit in this week's Ethereum chart book changes the entire framing, and it is not the one most investors are watching. It draws a precise line between what Ethereum has confirmed and what it has not yet earned. A floor is not a recovery. Confirmation of the former is meaningful; it tells you the worst-case scenario is bounded. But it tells you nothing about timing, and confusing the two is exactly how investors get trapped in dead-money positions while Bitcoin moves without them. The single price level that converts Ethereum from a hold to a buy and the three charts that define the current setup are below.

Please find attached our pdf report with all the charts.

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