Ethereum is showing renewed strength after rebounding from the Bull Market Support Band, a key area that has historically served as a springboard for major uptrends. The rebound signals a possible change in momentum, but now the real test lies ahead. As the price approaches the important gold bag resistance line, a breakout is likely to confirm a continued bullish phase.
ETH bounced off weekly bull market support zone
In his latest update on ETH, Luca, a cryptocurrency analyst at According to Luca, the price successfully rebounded from the weekly bull market support zone. This bounce also coincides perfectly with the higher time frame support highlighted in the previous PAT update, reaffirming the technical strength of this level.
He emphasized that this move was largely expected, as support zones have repeatedly proven to be reliable areas for bullish reactions whenever ETH enters a correction phase. The recent bounce is a sign that buyers remain active and willing to defend key levels, which, if sustained, could set the stage for new momentum.
However, Luca urged caution in the near term, noting that ETH is now approaching a key resistance area. This zone corresponds to the golden pocket area between Fibonacci levels 0.5 and 0.618, where Ethereum was previously under selling pressure. Failure to break this area could result in a sideways move or a slight decline before a decisive trend change occurs.
ETH eyes the higher timeframe resistance range for the next leg-up.
The analyst added that if Ethereum breaks above the current resistance range, it would signal a decisive change in the market structure. This move would confirm the new bullish momentum and pave the way for a medium-term uptrend towards the higher time frame resistance area shown in red.
He added that as long as ETH stays above the “golden pocket” area after the breakout, the most likely outcome would be a further rally. Maintaining momentum above this key area will strengthen the bullish narrative, suggesting that Ethereum may continue to rise towards higher resistance levels without facing a major correction.
However, until such a breakout occurs, analysts expect a period of consolidation around the current support zone. According to the analyst, this step is likely to lay the foundation for a more sustainable upward reversal in the future. Patience remains key as the ongoing structure suggests that Ethereum is poised for a stronger and more sustained rise once the market confirms its direction.