Ether is quietly preparing for a potentially decisive move as the Libra pattern remains lively on the weekly chart. While confirmation is still pending, the structure has not been invalidated, which keeps the upside scenario firmly on the table. As key resistance levels are above and momentum begins to stabilize, ETH may be entering a critical phase where the next major directional move begins to take shape.

The weekly Libra formation maintains the bullish situation

On the X platform Kamile Uray highlighted that Ethereum is currently forming a Libra pattern on the weekly chart. Since the weekly candle has not closed yet and there has been no invalidation so far, the bullish pattern remains lively and is still a valid scenario.

According to the update, confirmation of a reversal would open the door to a move towards the high of $4,956, but the price may encounter significant resistance along the way, especially near the $3,445 level. Kamile Uray noted that a daily close above $2,475 would be the first technical signal indicating that the momentum is strengthening and that the recovery may continue. Failure to maintain movement above this area can delay further progress and make the price susceptible to declines.

As the Libra pattern develops on a weekly basis, the pattern will only be declared invalid if Ethereum breaks below the low at $1,388, highlighting the broader, long-term nature of the setup.

Ethereum surges to $2,086 after surging 22%.

According to to Can Özsüer, Ethereum is currently trading around $2,086, up strongly from the $1,730 area. From this level to the current price, ETH has increased by approximately 22% without a significant correction, which increases the likelihood of short-term profit taking. After such a piercing move, there is usually a little selling pressure as the market cools.

Can Özsüer notes that any sales from this region are expected to remain controlled rather than aggressive. The ideal retracement zone lies between $1,950 and $2,000, where the price can reset without harming the broader bullish structure. A drop to this range would be considered hearty and could set the stage for the next step higher.

Once this corrective move is completed, the next upside target will reach around $2,200. However, if the price pushes straight towards the target without offering a pullback, the strategy will need to be adjusted. In such a scenario, chasing a long position becomes less attractive because once the target is achieved, a stronger wave of selling may follow. If a correction does occur, Can Özsüer suggests that the preferred approach would be to go long at the time of the pullback.