Ethereum is quietly gearing up for a potentially decisive move as the Libra formation remains active on the weekly chart. While there is no confirmation yet, the structure has not been debunked, leaving the upside scenario firmly on the table. With key resistance levels overhead and momentum beginning to stabilize, ETH may be entering a critical phase where the next major directional move begins to take shape.
Weekly Libra formation keeps the bullish cause alive
On the X platform, Kamile Uray marked that Ethereum is currently forming a Libra pattern on the weekly chart. With the weekly candle yet to close and no invalidation occurring so far, the bullish formation remains active and remains a valid scenario.
According to the update, confirmation of a reversal would open the door for a move towards the high of $4,956, but the price could encounter notable resistance along the way, especially around the $3,445 level. Kamile Uray noted that a daily close above $2,475 would serve as the first technical signal that upside momentum is strengthening and the recovery could continue. If the move above this area is not sustained, further progress could be slowed and the price could remain vulnerable to pullback.
Because the Libra formation evolves on a weekly basis, the pattern would only be considered invalid if Ethereum were to break below the low of $1,388, underscoring the broader, long-term nature of the setup.
Ethereum soars higher at $2,086 after a sharp 22% run
According to versus Can Özsüer, Ethereum is currently trading around $2,086, marking a strong rally from the $1,730 area. From that level to the current price, ETH has risen about 22% without a meaningful correction, increasing the potential for near-term profit-taking. After such a sharp move, there is usually slight 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 pullback zone is between $1,950 and $2,000, where the price could reset without damaging the broader bullish structure. A dip into this range would be considered healthy and could set the stage for the next leg higher.
Once that corrective move plays out, the next upside target comes around the $2,200 level. However, if the price moves directly towards the target without providing a pullback, the strategy would need to be adjusted. In that scenario, chasing a long position becomes less attractive as a stronger sell-off could follow once the target is reached. If a correction occurs, Can Özsüer suggests that a long position on the pullback would be preferable.