Ethereum is quietly preparing for a potentially breakthrough move as the Libra formation remains active on the weekly chart.. Although confirmation is still pending, the structure has not been invalidated, which keeps the optimistic scenario on the table. With key resistance levels above and momentum beginning to stabilize, ETH could enter a critical phase where the next major directional move begins to take shape.
Libra Weekly Formation Keeps Bullish Case Alive
On Platform X, Kamile Uray pointed out that Ethereum is currently forming a Libra pattern on the weekly chart. With the weekly candle yet to close and no invalidation so far, the bullish formation remains active and continues to be a valid scenario.
According to the update, confirmation of a reversal would open the door for a move towards the $4,956 high, but the price could encounter notable resistance along the way, especially around the $3,445 level. Kamile Uray noted that a daily close above $2,475 would be the first technical signal that bullish momentum is strengthening and the rally may continue. Failure to sustain a move above this zone could delay further progress and keep the price vulnerable to pullbacks.
Since the Libra formation develops on a weekly time frame, the trend will only be considered invalid if Ethereum falls below the $1,388 low, highlighting the broader, long-term nature of the pattern.
Ethereum extends higher to $2,086 after sharp 22% rise
According to Can Özsüer, Ethereum is currently trading around $2,086, marking a strong recovery from the $1,730 area. From this level to the current price, ETH has surged about 22% without a significant correction, increasing the likelihood of short-term profit-taking. After such a sharp move, a slight selling pressure usually appears as the market cools down.
Can Özsüer notes that any sales from this region should remain controlled rather than aggressive. The ideal pullback zone is between $1,950 and $2,000, where the price could reset without damaging the broader bullish structure. A dip into this range would be considered healthy and could set the stage for the next step higher.
Once this corrective move is made, the next upside target is around the $2,200 level. However, if the price pushes directly towards the target without offering a pullback, the strategy will need to be adjusted. In this scenario, continuing a long position becomes less attractive, as a stronger selling wave could follow once the target is reached. If a correction materializes, Can Özsüer suggests that a long position on the pullback would be the preferred approach.
