Ethereum Holds Key Support Zone Amid Bullish Recovery Signs

Ethereum's price action has been closely watched by analysts as it continues to maintain its long-term rising support line. Despite trading well below its previous high near $4,800 to $5,000, the cryptocurrency remains resilient. However, momentum indicators such as the Relative Strength Index (RSI) show that bullish strength is not yet fully confirmed.

A weekly breakout above the short descending trendline and reclaiming the $4,800 resistance zone are crucial for confirming a bullish recovery. If Ethereum succeeds in breaking through this resistance, it could retest old highs and potentially move toward a $10,000 target. However, the cryptocurrency's price movement is closely tied to its momentum indicators, which currently show that the bullish strength is not yet strong enough.