Given the increasing volatility observed in the general crypto market over the weekend, Ethereum Again it lost its price mark of $2,500, bringing a notable pullback of nearly $2,200. However, ETH has not lost all the chances of meetings as the technical development suggests a major rebound in the coming days.
Key patterns show the sharp gatherings of Ethereum
Ethereum is fighting the subsequent bear pressure Lose $2,500 A few days ago. While ETH prices may have witnessed a sharp pullback, crypto analyst Rose Premium Signals believes that a rebound may be ongoing.
In the post Share In X, expert analysis on ETH shows that Altcoin is building strength under fall as important chart patterns begin to take shape. Specifically, the Rose Premium Signal identified cup and handle chart patterns over a one-week time frame.
The cup and handle formation is a bullish technical continuity pattern, suggesting the possibility of bouncing upside down following the integration phase. Patterns often refer to bullish outlooks, so experts believe ETH can bounce back again It will dramatically increase to a high level.
Looking at the weekly chart, Ethereum prices are currently retreating from the Neckline region at around $2,600. in spite of Significant reductionKey Chart Pattern is expected to trigger major gatherings in ETH.
As the cup and handle patterns slowly mature, ETH may be on the crisis of important upward movement that could challenge previous highs. According to Rose Premium Signals, if this zone recovers successfully, Altcoin can approach its main target of $4,204.69.
Is it a good time to buy an ETH?
While Ethereum is back, Alien Vicho, a crypto expert and trader; It was revealed The approaching Altcoin’s price range is considered a good purchase point. After navigating ongoing price action, analysts highlighted the purchase zone between the $2140 and $1970 range.
With bear pressure increasing, the $2,140-$1,970 purchase zone is a key area where positive responses are expected and is currently being tested. ETH. However, if next week’s bounce doesn’t occur, attention will shift to the next possible demand zone (approximately $1,800).
This level is consistent with previous structures and, if larger structures are retained, may provide a more solid foundation for subsequent movement. Meanwhile, the rebounds expected to take place in the next few days are ETH Price Beyond the $2,300 resistance level.
At the time of writing, ETH is trading at $2,264, showing a nearly 1% decline over the last 24 hours. The price of ETH may be facing bearish pressure, but feelings among traders seem to be improving. CoinMarketCap data reveals that trading volumes have increased by more than 13% over the past day.
Pixabay featured images, charts on tradingView.com
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