Ethereum Defies Gravity: Bounces Off Critical Weekly Support - Here’s Where It’s Headed Next

Ethereum just pulled off a textbook bounce. After flirting with a key weekly support level, the second-largest cryptocurrency snapped back—and now the market's watching where it goes from here.

The Technical Turnaround

It wasn't a graceful dip; it was a test. That weekly support level held firm, acting like a trampoline for ETH's price. This isn't just a minor blip—it's the kind of move that gets chart analysts reaching for their green highlighters. The bounce signals that, for now, the bulls aren't ready to surrender the field.

Mapping the Next Move

So, what's the play? All eyes shift to overhead resistance. The bounce sets up a clear path for the next leg, with traders now gauging whether ETH has the momentum to challenge higher price zones or if it's just catching its breath before another test lower. The market's always forward-looking—yesterday's bounce is already priced in.

The Bigger Picture

Let's be real—in crypto, a 'key level' is just a line on a chart until enough people bet their rent money on it. This bounce reinforces the narrative, for better or worse. It keeps the 'accumulation' and 'bullish structure' talks alive in trading chats, even as traditional finance pundits scoff over their third espresso. One thing's clear: Ethereum's network doesn't care about your support lines, but its token price sure seems to.

The path ahead hinges on whether this was a genuine rejection of lower prices or just a pit stop on the way down. Either way, it just made the chart a whole lot more interesting.

Ethereum rebounds above a major weekly support as volatility rises, with traders watching higher resistance levels for direction. Notably, ethereum is trading at $3,164.58, showing renewed strength after a volatile start to the week.

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