Feb 8, 2026
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BULLISH 📈 : Ethereum Libra pattern suggests potential upside breakout approaching
Ethereum is in a crucial phase with the Libra pattern forming on the weekly chart. The bullish scenario remains, pending confirmation. Key resistance levels are overhead, and momentum is stabilizing.
Weekly Libra Pattern
- The Libra formation suggests potential movement towards $4,956, but significant resistance is anticipated at $3,445.
- A daily close above $2,475 indicates strengthening momentum, while failure to do so could lead to pullbacks.
- The pattern remains valid unless Ethereum falls below $1,388.
Current Market Situation
- Ethereum recently surged 22% to $2,086 from $1,730.
- Light selling pressure is expected as the market cools off.
- An ideal pullback zone lies between $1,950 and $2,000.
- Next upside objective stands at $2,200 if a corrective move occurs.
- If price advances without a pullback, chasing a long position may be less attractive.
