Ethereum A golden pocket between $2,600 and $2,800 has arrived, and we are at a critical juncture. With resistance approaching $2,800, market We are now at a critical moment. Will ETH be able to regain this level and trigger a move towards $3,000, or will sellers push it back below key support?
Golden Pocket Breakdown Verifies Ethereum Downside Target
on ethereum updateanalyst Luca provided a detailed analysis of major altcoins, reflecting the experts' previous predictions. As he covers all the PAT updates and the latest YouTube video, once Ethereum falls below the high timeframe support range, specifically the golden pocket between 0.5 and 0.618. fibonacci At POI, the most likely outcome was continued downside pressure.
Luca explained that this expected continuation targets the next major support, the high timeframe. support Range marked in purple. That exact scenario has played out exactly as expected, with price now confirming a rebound on the lower timeframe.
Given this proven support, Luka believes the most likely outcome is a reversal to the upside. However, he stressed the need for confirmation before fully committing to the long side. “We would like to see signs of additional strength and a clear bottom formation to ensure this level holds before we start scaling out from the hedge,” Luca said.
of analyst It ended with a warning that if the price breaks below this established range, the idea that the move is a simple corrective wave 2 on the higher time frame is completely invalidated. Rather, the collapse signals a permanent structural decline, and Mr. Luka intends to “avoid getting caught up in it.”
$2,600 test: Buyers rush to defend lows
After researching current price trends, crypto analyst Ted Pillows said: highlighted ETH has had significant experience volatility Yesterday, it almost reached the $2,600 level before finding a temporary floor. Following this test, Ethereum is currently attempting to reclaim the $2,800 level, at which point it faces significant resistance from sellers.
The analyst pointed to a clear path to continued recovery. If Ethereum resolutely regains and maintains the $2,800 level, it would demonstrate enough bullish strength to propel ETH towards the next key psychological and technical target, the $3,000 level.
On the contrary, Ted warns that if this essential $2,800 level is not regained, the market is likely to reverse and fall. As a result, traders should expect a development below the $2,500 level, indicating that the asset needs to test deeper support before trying another structure. recovery.
Featured image from iStock, chart from Tradingview.com
