Ethereum at a Crossroads: Will the "Golden Pocket" Unleash the Next Bull Run?
Ethereum (ETH) has recently demonstrated significant resilience, successfully bouncing back from its long-established Bull Market Support Band. This technical rebound signals renewed strength, positioning the cryptocurrency for a critical confrontation with a major resistance zone known as the "golden pocket." The market now watches intently to see if ETH can conquer this formidable hurdle and confirm a sustained bullish phase.
ETH Rebounds from Key Support
According to prominent crypto analyst Luca, Ethereum's recent price action confirms its ability to find solid footing at a historically reliable support area: the Weekly Bull Market Support Band. This rebound aligns perfectly with previous high-timeframe analyses, reaffirming the technical robustness of this level. The bounce indicates a strong presence of buyers actively defending key price points, which is crucial for building upward momentum. Should this strength persist, it could pave the way for a renewed bullish surge.
The Looming "Golden Pocket" Challenge
Despite the encouraging rebound, caution is advised in the short term as Ethereum approaches a critical resistance zone. This "golden pocket" area, corresponding to the 0.5 and 0.618 Fibonacci retracement levels, has historically been a point of significant selling pressure for ETH. A failure to decisively break above this region could lead to lateral price movement or a minor pullback, delaying any significant upward trend.
Pathway to a Sustained Rally
A successful breakout above the current resistance range would be a strong indicator of a fundamental shift in market structure, confirming renewed bullish momentum. Analyst projections suggest that if Ethereum can maintain its position above the "golden pocket" following a breakout, it would likely continue its ascent towards higher resistance levels, avoiding substantial corrections. Until such a breakthrough occurs, a period of consolidation around the current support band is anticipated, serving as a base for a more durable rally once the market direction is clearly established.
