- Ethereum dropped 7% weekly from $4,954 to $4,400 but is showing signs of resilience by trading back in green territory.
- A Bearish Cypher harmonic pattern is forming on the 4H chart, with the CD leg potentially unfolding as a bullish rally before reaching the Potential Reversal Zone.
- Key resistance level to watch is the 50-period moving average at $4,565, with a breakout potentially confirming bullish momentum.
- If the harmonic pattern plays out, ETH could rally toward $4,817-$4,956 range, representing a potential 12.7% upside from current levels.
Date: Sat, Aug 30, 2025 | 10:20 AM GMT
The cryptocurrency market has once again entered choppy waters as Ethereum (ETH) slipped to $4,400 from its recent high of $4,954, marking a 7% weekly decline.
However, ETH is showing signs of resilience today, trading back in the green. Even more importantly, the chart is flashing a harmonic setup that could lay the groundwork for a potential rebound in the coming sessions.
Harmonic Pattern Hints at Potential Upside
On the 4H chart, ETH is forming a Bearish Cypher harmonic pattern. While the name suggests a bearish bias, the CD leg often unfolds with a bullish rally before price action approaches its Potential Reversal Zone (PRZ).
The structure started at Point X near $4956, dropped to Point A, rebounded toward Point B, and then corrected sharply to Point C around $4261. Since that low, WLD has regained momentum, now trading near $4395.
The immediate resistance to watch is the 50-period moving average (MA) at $4,565. A clean breakout and sustained close above this level would reinforce bullish momentum.
What’s Next for ETH?
The harmonic structure suggests a possible recovery phase is underway, but bulls still need to clear the $4,565 resistance. If confirmed, ETH could rally back toward the PRZ between $4,817 (0.786 Fib extension) and $4,956 (1.0 Fib). This move implies a potential 12.7% upside from current levels.
On the downside, a decisive break below the C-point support at $4,261 would invalidate the setup and expose ETH to further selling pressure.
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