Ethereum News Today: Mutuum's $20M Presale Signals Crypto Optimism as Ethereum Nears Key Support Zone

The cryptocurrency market is showing early signs of a potential rebound as Ethereum (ETH) and Solana (SOL) traders eye key support levels, while a new altcoin, Mutuum Finance (MUTM), gains traction with a presale nearing $20 million. Analysts are closely watching Ethereum's price action, which has dipped to $2,850, a level that aligns with historical "discount zones" and on-chain support metrics. Technical analysts like Merlijn The Trader highlight a recurring three-wave structure in ETH's price movements, with the current decline marking the second corrective phase. If the pattern holds, Ethereum could see a third-wave rally to $9,000.

Ethereum's ETH/BTC ratio, trading at 0.0325, is another focal point. This level has historically acted as a base for significant rebounds, with past bounces generating over 140% gains. According to analyst Michaël van de Poppe, a successful support hold here could position ETH to outperform Bitcoin (BTC) in the coming months. Meanwhile, on-chain data reinforces the $2,600–$2,800 range as a critical reversal zone. Lennaert Snyder and other traders are monitoring the $2,680 and $2,620 levels, with a daily demand zone at $2,570 offering additional short-term support.

The broader market context also supports cautious optimism. As of November 26, the crypto market capitalization rose 0.6% to $3.1 trillion, with 80 of the top 100 coins posting gains. Bitcoin, trading at $87,788, remains range-bound, while Ethereum's 1.1% increase to $2,938 reflects renewed buying interest. Koinly CEO Robin Singh cautions that the market is in a "Christmas hibernation" phase, with December typically seeing muted activity. However, he emphasizes that a decisive reclaim of $90,000 for Bitcoin could trigger a broader market rally and delay a "crypto winter" scenario.

Amid these dynamics, Solana (SOL) has emerged as a standout performer, surging 2.1% to $139. The asset's inclusion in the top 10 market cap rankings and growing institutional adoption underscore its role as a key growth driver in the current cycle.

While Ethereum and Solana dominate headlines, a new altcoin, Mutuum Finance (MUTM), is capturing attention with its presale progress. The project, which began in early 2025, is now in Phase 6, with 95% of its allocation sold at $0.035 per token. With $19 million raised and 18,200 holders, MUTM's presale is one of the fastest-growing in the DeFi space. The token's price is set to increase to $0.04 in Phase 7, and analysts project a 200%–400% surge by the platform's launch.

Mutuum Finance's roadmap includes a decentralized lending and borrowing protocol, with V1 expected on the Sepolia testnet in Q4 2025. The project has undergone security audits by CertiK and Halborn, adding credibility to its technical foundation. Investors are drawn to its utility-driven model, which integrates liquidity pools, stablecoin minting, and automated liquidation mechanisms. The platform's focus on ETH and USDT as initial collateral assets aligns with demand for scalable DeFi solutions.

The presale's success is fueled by accessible onboarding-direct card purchases allow first-time investors to join without complex steps-and a 24-hour leaderboard offering daily rewards. Whale participation has also accelerated, with several large buys exceeding $100,000 in recent days.

Market observers are cautiously optimistic about the near-term outlook. While Bitcoin's consolidation below $90,000 and the broader market's extreme fear index (15) suggest continued volatility, Ethereum's on-chain metrics and ETH/BTC ratio hint at a potential breakout. For altcoins, MUTM's presale momentum positions it as a high-conviction play in the DeFi sector, with its $0.035 price point offering a discount to projected launch valuations.