Ethereum's weekly chart shows a Libra formation still in play. The pattern hasn't confirmed, but it hasn't broken either — and that keeps the upside scenario alive.

Ethereum Libra Formation: Next Big Move Loading?

Ethereum is setting up quietly, and the structure forming on its weekly chart deserves attention. Analyst Kamile Uray recently pointed out that ETH is developing a Libra formation, a technical pattern that, if confirmed, could signal the start of a significant upward move. The key detail: the formation is still intact. It hasn't been invalidated, which means the bullish case remains structurally viable, even if confirmation is still pending.

The Libra pattern is a continuation or reversal structure that appears when price action consolidates within a defined range before breaking out. On Ethereum's weekly chart, this setup suggests that the market is stabilizing after a period of chop and indecision. Momentum is beginning to flatten, and key resistance levels are sitting overhead, waiting to be tested. If the pattern confirms with a breakout above resistance, it could mark the beginning of a larger directional move to the upside.

What makes this worth watching isn't just the pattern itself, but the context. Ethereum has been trading in a range for weeks, with neither bulls nor bears able to establish clear control. The Libra formation reflects that equilibrium, but it also suggests that equilibrium is temporary. Eventually, the market will choose a direction, and this pattern is one framework for anticipating which way it might go.

From a risk perspective, the setup is clean. If the formation breaks down and invalidates, the bullish thesis weakens and traders can reassess. But as long as the structure holds, the upside scenario remains in play. That's the value of technical patterns — they don't predict outcomes, but they provide clear conditions for evaluation.

What I find interesting is the patience this requires. The market hasn't given confirmation yet, but it also hasn't given reason to abandon the idea. Ethereum is in that in-between phase where the next big move is loading, but the timing is still uncertain. For now, the Libra formation keeps the bullish case alive, and the chart is worth monitoring closely in the weeks ahead.