Ethereum Sees Rare Bullish Signal and Readies a Storm Rally Toward a New All Time High
Ethereum Sees Rare Bullish Signal and Readies a Storm Rally Toward a New All Time High
Ethereum (ETH) is forming a rare Libra bullish pattern on the weekly chart, overcoming long-term downward pressure and laying the groundwork for a massive leap toward a historic all-time high.
According to cryptocurrency-focused outlet NewsBTC on February 8 (local time), Ethereum has activated a Libra pattern on the weekly chart, signaling a strong directional shift in the market ahead. Analyst Kamile Uray noted that the pattern remains valid and, if not broken before the weekly close, a bullish scenario is likely to dominate the market. In particular, if Ethereum posts a daily close above $2,475, it would mark the first technical signal that upside momentum is accelerating in earnest.
This pattern holds major significance from a long-term perspective. Once the Libra formation is confirmed, the price would secure a bullish path beyond the short-term resistance at $3,445 toward the previous peak of $4,956. Notably, the pattern would only be invalidated if Ethereum were to plunge below $1,388, underscoring the robust foundation of the current bullish structure. Investors are focusing less on short-term price noise and more on weekly macro-structural changes as they await a qualitative shift in the market.
Recent price action has also been encouraging. Ethereum rebounded from around $1,730 and has surged roughly 22% to the $2,086 level. Analyst Can Özsüer said that while some profit-taking may emerge after such a sharp rally, it would constitute a healthy correction that cools market overheating. The ideal pullback zone is seen between $1,950 and $2,000, with the market’s ability to hold support there serving as a key factor in determining the fuel for further gains.
On-chain indicators and market sentiment are also showing signs of recovery. Major technical indicators such as the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) are stabilizing, while changes in open interest suggest the possibility of fresh capital inflows. If Ethereum heads straight toward $2,200 without a correction, strong buying pressure could follow and further amplify gains. However, experts say a post-correction entry strategy offers better risk management, and a breakout above $2,200 would signal the true start of a bull market.
Armed with the powerful Libra pattern, Ethereum is now preparing for the next bullish cycle by defending key support levels while testing technical limits. The 22% rebound from $1,730 is increasingly likely to mark the beginning of a long-term trend reversal rather than a simple dead-cat bounce. As liquidity improves across the broader crypto market, Ethereum’s structural resilience is reaffirming its position as the leading altcoin.
*Disclaimer: This article is for investment reference only, and no responsibility is taken for any investment losses based on it. The content should be interpreted solely for informational purposes.*
<저작권자 ⓒ 코인리더스 무단전재 및 재배포 금지>
|
  많이 본 기사
English 많이 본 기사
|
