Ethereum has now entered the 7th consecutive bearish month. A series of the lower highs and lower lows has continued as the price action fails to move and close above the down slipping trend line. A couple of weeks ago the coin also pushed through the 127.2% Fibonacci support zone, and it is now approaching the key 161.8% Fibonacci support zone. Moreover, in the same zone also lies the 88.6% Fibonacci support. The zone between 0.0337 and 0.0348 will likely prove to be a big test for the bears. If another break is made then a long-term bearish picture awaits Ethereum. The next support lies in the multi-year low around 0.0233. However, we are looking at the other scenario as a more likely option. The above-mentioned support zone should provide enough cover for the bulls to have a bounce at least. Concretely, We are expecting a pause at the zone and a bounce to the trend line. If this is the case, place your stops below the support zone and look for the move towards the trend line in the coming weeks.