Ethereum is showing renewed momentum and technicals point to a potentially larger move. With critical support holding and bullish structures emerging, the market appears poised for an upside if confirmations follow.
Golden Pocket Rejection: Confirming The High-Risk Scenario
Analyst Luca noted on X that ETH tapped the lost high-timeframe support zone, which coincided with the golden pocket (the 0.5–0.618 Fibonacci area) and was rejected, matching his earlier high-risk scenario.
After that rejection the price slipped below the 0.618 Fibonacci POI, yet it remains above the key 1-Day Bull Market Support Band. Luca highlighted this band as a frequent reversal zone in recent months, so he still sees the low-timeframe structure as not fully invalidated.
Despite the technical hold, Luca remains cautious: he wants clear low-timeframe strength that durably confirms a bottom and reclaims key support before reducing risk exposure.
Until bullish confirmation arrives, he expects more consolidation. The market needs to absorb recent volatility and form a base before a sustained reversal higher can occur.
ETH/BTC Trendline Breakout: Market Risk Appetite Returns
Analyst Paramatik reported a significant structural move on ETH/BTC: a falling trendline breakout. He expects a possible retest of that trendline before the upcoming Federal Reserve meeting.
Paramatik explained that ETH gaining versus Bitcoin signals rising market risk appetite, as capital shifts from BTC into ETH. Historically, rising ETH strength often precedes an altcoin season, when funds move from BTC to ETH and then into smaller-cap altcoins seeking higher returns.
He characterized the ETH/BTC breakout as more than a line break — a potential early sign of changing market direction. The analyst added that the market is in a state where even minor or unrelated events can influence crypto prices.
Featured image from Freepik, chart from Tradingview.com
