 ▲ Ethereum (ETH) |
Ethereum (ETH) has successfully staged a surprise rebound from the critical breakdown of the $2,000 level, sending a powerful reversal signal that the downtrend may be coming to an end.
According to cryptocurrency media outlet U.Today on February 13 (local time), Ethereum overturned the worst-case scenario of a failed double-bottom pattern that had emerged amid continued price weakness and showed strong recovery momentum. Typically, the failure of a double-bottom pattern is considered a strong bearish signal, as buyers are heavily liquidated and prices plunge. However, immediate buying intervention reversed market sentiment.
As soon as the price broke below support, buyers aggressively absorbed supply and pushed Ethereum back above the breakdown level. This move suggests that the short-term downside momentum of sellers has effectively been exhausted, neutralizing market fears of a prolonged decline. The accompanying surge in trading volume during the rebound confirmed that substantial buy orders had been waiting at lower price levels.
Technical indicators are also showing positive changes. Momentum indicators, including the Relative Strength Index (RSI), which had remained in deeply oversold territory, have begun to stabilize and flatten. These signals support the possibility of consolidation within a range or the beginning of a genuine recovery phase rather than further price declines.
However, from a technical perspective, it is still too early to confidently declare a full transition to a bullish market. Ethereum is currently trading below key moving averages that are acting as strong resistance levels, meaning it must secure higher price territory to establish a stable rebound. Without sustained follow-up buying pressure, the price could potentially return to a downward trend.
The key point for Ethereum investors is that the potentially devastating crash triggered by the failed double-bottom pattern has, for now, been averted. If Ethereum can maintain the price levels it has recently recovered, the market is expected to regain psychological stability and begin gathering momentum for a new upward move.
Disclaimer: This article is for investment reference only, and no responsibility is assumed for any investment losses based on it. The content should be interpreted solely for informational purposes.