Ethereum is showing renewed strength after rebounding from its bull market support band, a key area that has historically served as a launching pad for major uptrends. This rebound signals a possible change in dynamics, but the real test is yet to come. As price approaches crucial golden pocket resistance, a breakout is likely to confirm a sustained bullish phase.
ETH Bounces After Weekly Bull Market Support Band
In his recent update on ETH, Luca, a crypto analyst at X, noted that the asset had once again found solid footing in a familiar support zone. According to Luca, the price successfully bounced off the weekly bull market support band. This rebound also aligns perfectly with the long-term support range highlighted in its previous PAT updates, reaffirming the technical strength of this level.
He pointed out that this move was largely anticipated, as the support zone has repeatedly proven to be a reliable zone for bullish reactions whenever ETH enters a corrective phase. The recent rebound indicates that buyers are still active and ready to defend key levels, which could pave the way for further momentum if it maintains.
However, Luca urged caution in the short term, highlighting that ETH is now approaching a major resistance zone. This area corresponds to the golden pocket area between the 0.5 and 0.618 Fibonacci levels, where Ethereum has already encountered selling pressure. Failure to break through this region could result in a sideways move or slight pullback before a decisive trend change occurs.
ETH eyes long-term resistance range for next leg
The analyst further explained that if Ethereum manages to break above the current resistance range, it would signal a decisive change in the market structure. Such a move would confirm renewed bullish momentum, paving the way for a medium-term uptrend towards the high-end resistance zone marked in red.
He added that as long as ETH remains above the “golden pocket” zone after a breakout, the most likely outcome is still bullish. Maintaining momentum above this key area would strengthen the bullish narrative, suggesting that Ethereum could continue to climb towards higher resistance levels without facing major corrections.
However, until this breakout occurs, the analyst expects a period of consolidation around the current support band. According to the analyst, this phase would likely serve as the basis for a more lasting bullish reversal in the future. At this time, patience remains key as the current structure suggests that Ethereum is preparing for a stronger and more sustained rally once the market confirms its direction.
