 ▲ Ethereum (ETH) |
Ethereum (ETH) has fully reshaped its market structure after enduring weeks of intense selling pressure and has entered a full-scale rebuilding phase for a new bullish rally.
According to cryptocurrency media outlet U.Today on February 17 (local time), after experiencing a brief pullback near the psychological support level of $2,000, Ethereum began forming higher lows on short-term charts, signaling that buyers are regaining control. Although overall market sentiment remains cautious, structural changes on the charts suggest the beginning of a new upward trend. Recent price action is analyzed as a healthy recovery phase driven by sustained accumulation rather than a temporary speculative spike.
As Ethereum rebounds from a local bottom, the accompanying increase in trading activity indicates that market participants are prepared to absorb supply at lower price levels. While volatility remains elevated, Ethereum’s firm defense of key support levels has significantly reduced downward pressure compared to earlier this month. The strong return of buying interest is laying the groundwork to halt the previous downtrend and push prices higher once again.
However, the technical landscape still presents complex challenges. A double-top pattern formed on higher time frames in the past has limited the possibility of a steep recovery toward previous highs. The sharp correction that occurred during the formation of this pattern forced numerous leveraged positions to be liquidated, fundamentally altering the market’s structure. Through this process, excess froth was removed and a more solid base was established.
The current rebound does not simply continue the previous uptrend but represents a rebuilding phase formed on a completely reset market structure. To establish a long-term upward trend, Ethereum must continue forming higher lows and decisively reclaim resistance levels near prior supply-heavy zones. Such a technical breakout is expected to play a crucial role not only in driving prices higher but also in restoring overall market confidence.
If resistance levels are successfully broken, bullish conviction is likely to strengthen, potentially prompting sidelined capital to flow back into the market in large volumes. Global investors are closely watching whether Ethereum can successfully complete its rebuilding phase and embark on a full-fledged upward trajectory. Attention is focused on whether the consolidation of buyers who have identified a bottom could serve as a catalyst for a broader rebound across the digital asset market.
*Disclaimer: This article is for investment reference only and we are not responsible for any investment losses incurred based on it. The content should be interpreted for informational purposes only.*