The weekly close now stands as the main focal point. According to the analyst, a positive signal would require Ethereum to retest the trendline and close above it, with the price holding support during the process.
With this outcome, Ethereum could begin to rebuild its bullish momentum. The move would signal renewed strength in market structure. Until then, traders remain cautious.
The analyst notes that confirmation depends on how the price reacts around the trendline. A strong close above it could shift short-term sentiment. However, the structure remains fragile without that confirmation.
Read More: Ethereum Trading Activity Slows as Volume Drops to Multi-Week Lows