Ethereum Rebounds From Bull Market Support: Can It Conquer The ‘Golden Pocket’ Next?

Ethereum is showing renewed strength after rebounding from its Bull Market Support Band, a key zone that has historically served as a launchpad for major ￰0￱ bounce signals a possible shift in momentum, but the real test now lies ￰1￱ the price approaching the crucial golden pocket resistance, a breakthrough is likely to confirm a sustained bullish ￰2￱ Bounces Back From Weekly Bull Market Support Band In his recent update on ETH, Luca, a crypto analyst on X, noted that the asset has once again found solid footing at a familiar support ￰3￱ to Luca, the price has successfully bounced off the Weekly Bull Market Support ￰4￱ rebound also aligns perfectly with the high-timeframe support range highlighted in his previous PAT updates, reaffirming the technical strength of this ￰5￱ Reading: Ethereum Gathers Strength — Upside Breakout Could Confirm Recovery Phase He emphasized that this move was largely anticipated, as the support zone has repeatedly proven to be a reliable area for bullish reactions whenever ETH enters a corrective ￰6￱ recent bounce signals that buyers are still active and willing to defend key levels, which could set the stage for renewed momentum if sustained.

However, Luca urged caution in the short term, pointing out that ETH is now approaching a major resistance ￰7￱ zone corresponds with the golden pocket area between the 0.5 and 0.618 Fibonacci levels, where Ethereum previously encountered selling pressure. A failure to break above this region could result in sideways movement or a minor pullback before any decisive trend shift ￰8￱ Eyes High-Timeframe Resistance Range For Next Leg Up The analyst further explained that if Ethereum manages to break above the current resistance range, it would signal a decisive shift in market ￰9￱ a move would confirm renewed bullish momentum, paving the way for a mid-term uptrend toward the high-timeframe resistance zone marked in ￰10￱ Reading: Ethereum’s Technical Reset: $3,800 Support May Ignite The Next Wave Upward He added that as long as ETH holds above the “golden pocket” zone after a breakout, the most likely outcome remains further ￰11￱ momentum above this key area would reinforce the bullish narrative, suggesting that Ethereum could continue climbing toward higher resistance levels without facing major corrections.

However, until that breakout occurs, the analyst expects a period of consolidation around the current support ￰12￱ to the analyst, this phase would likely serve as a base for a more durable upside reversal in the ￰13￱ this time, patience remains essential, as the ongoing structure hints that Ethereum is preparing for a stronger, more sustained rally once the market confirms ￰14￱ image from Pixabay, chart from ￰15￱