Ethereum Holds Firm After Pullback, Eyes 77% Potential Rally

Ethereum has shown resilience after a healthy pullback, retesting its $4,811 target. It is currently holding steady, indicating the correction phase may be over. If buyers regain control, a rally could ensue.

Key Points

  • ETH reached $4,811.71 before a pullback, and bullish signals have re-emerged.
  • Surpassing $4,811.71 could unlock fresh buying pressure and continue the bullish trend.
  • A sustained rally above this level could drive ETH toward $8,557.68, a +77% move.
  • ETH maintains its ascending trendline, serving as strong support during pullbacks.
  • The structure of higher lows suggests building momentum for a potential breakout.

Ethereum

This trendline has continually attracted renewed momentum, highlighting its importance as technical support. If the bullish pressure continues, ETH might reclaim higher levels and aim for fresh targets soon.