#Ethereum Weekly Update:
We're seeing a solid bounce from a key support zone between $2K and $2.15K, a crucial level that has held since mid-2022. This also aligns with the ascending support line. On the 3-day chart, ETH rebounded from the golden pocket ($2.15K - $2.2K). In the short term, weâre likely to hold this area, but we still need more bullish reversal signals to confirm a larger trend shift.
On the daily chart, we've just confirmed a bullish divergence with one green candle close and a higher low on the RSI. A second green candle could further solidify this momentum.
However, the larger trend remains bearish for now, so watch for consolidation or slight relief over the next few days or weeks.
