$ETH WEEKLY: BULL TRAP OR THE START OF A NEW HIGHER LOW? đ
Ethereum is approaching a critical weekly support zone around $1,430â$1,630, a level that has repeatedly attracted buyers in the past. The recent bounce toward $2,700 failed to hold, and ETH is now back near $1,750. This makes the current reaction extremely important for the bigger picture.
If buyers manage to defend this support and ETH starts building a higher low, we could see another recovery attempt toward $2,400 resistance. A breakout above that level would strengthen the bullish structure and open the door for a larger reversal. However, the recent bounce could still be a bull trap if buyers fail to reclaim key resistance.
**This is a major decision zone for ETH.** Holding support could create the foundation for a new bullish structure, while a clean weekly breakdown would weaken the entire recovery scenario. The next move around this zone could define Ethereum's direction for the coming weeks.
Analysis by LEO524
Ethereum is approaching a critical weekly support zone around $1,430â$1,630, a level that has repeatedly attracted buyers in the past. The recent bounce toward $2,700 failed to hold, and ETH is now back near $1,750. This makes the current reaction extremely important for the bigger picture.
If buyers manage to defend this support and ETH starts building a higher low, we could see another recovery attempt toward $2,400 resistance. A breakout above that level would strengthen the bullish structure and open the door for a larger reversal. However, the recent bounce could still be a bull trap if buyers fail to reclaim key resistance.
**This is a major decision zone for ETH.** Holding support could create the foundation for a new bullish structure, while a clean weekly breakdown would weaken the entire recovery scenario. The next move around this zone could define Ethereum's direction for the coming weeks.
Analysis by LEO524
