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$ETH – The price has bounced off the Weekly Bull Market Support Band, which has acted as a strong reversal zone over the last several weeks.
This range also aligns with the high-timeframe support area, marked in green, a level that previously served as a major resistance throughout 2024.
Because of this confluence, I believe that as long as the price holds above this zone, the most likely outcome remains a continuation to the upside.
That said, until ETH breaks above the golden pocket between the 0.5 and 0.618 Fibonacci POIs, the same area that triggered the last rejection, the best approach is to stay somewhat cautious and ready for further consolidation within the high-timeframe accumulation range.
In practical terms, as I mentioned in my recent Bitcoin update, the priority now is risk management, avoid leverage, don’t overexpose yourself on short-term setups, and maintain a diversified portfolio with moderate exposure to defensive sectors. This will help you ride out the volatility as we move closer to the cycle top.
Also, keep a cash buffer, if ETH breaks below the support band, that would be a clear warning of potential deeper downside, in which case I’d look to hedge part of my spot holdings to mitigate short-term risk.