Ethereum’s Pre-Rally Setup: Holding The $3,600 Zone Could Spur An Upward Trend

Ethereum is holding firm within the $3,600–$3,800 range, showing resilience despite recent market ￰0￱ a consolidation phase could be the calm before a major breakout, as chart patterns hint at a possible pre-rally formation that might propel ETH toward new all-time ￰1￱ Right Shoulder Formation Signals Structural Strength Crypto analyst MarketMaestro delivered a detailed technical update on ETH, noting that the asset recently suffered a key rejection at its neckline ￰2￱ this failure, the price is now positioned in a crucial retest phase at a red diagonal resistance line that it had previously surpassed. ETH’s market’s success in holding this diagonal is essential to avoid completely losing the bullish momentum built up in the prior ￰3￱ Reading: Ethereum Slides Gradually — Buyers Losing Control As Market Turns Cautious The analyst further noted that the current price movement suggests ETH could be forming a right shoulder in this ￰4￱ structural development is highly significant because the right shoulder simultaneously works to complete two major, highly bullish chart ￰5￱ is the final component needed to create the handle for the Cup and Handle pattern, while forming a larger Inverse Head and Shoulders (Inverse H&S) ￰6￱ simultaneous formation of both the Inverse H&S and the Cup and Handle in the same area is extremely rare and powerful, indicating that the market is setting the stage for highly bullish formations for the next ￰7￱ this powerful confluence of classic reversal and continuation patterns, along with the behavior of the broader market index, MarketMaestro views this entire consolidation phase not as weakness but as a logical pre-rally ￰8￱ concludes with a high degree of confidence that the “pain threshold” or the maximum expected downside risk will likely not be very ￰9￱ Bias Intact As Long As Support Remains Firm In a recent update, analyst Crypto Candy noted that the ETH scenario remains largely unchanged, despite recent market movements.

A key takeaway from the analysis is that the asset is demonstrating significant resilience by strongly holding the crucial support zone between $3,600 and $3,800. Related Reading: Here’s What Happens To The Ethereum Price If Bullish Momentum Holds The analyst reiterated the importance of this specific range, emphasizing that as long as the $3,600–$3,800 zone successfully sustains, the medium-term bullish outlook remains firmly in ￰10￱ suggests that buyers are aggressively defending this level, preventing a deeper correction from ￰11￱ the strength shown at this support level, Crypto Candy maintains a strong price forecast: the market is expected to target $4,700, with the potential to reach a new ￰12￱ bullish bias, the analyst concludes, remains valid until the $3,600–$3,800 support zone is ￰13￱ image from Getty Images, chart from ￰14￱