Has ETH (Local) Bottomed and Quietly Changed Direction?Ethereum / TetherCOINBASE:ETHUSDTburakkesmeciIs Ethereum, bouncing from 1,506, really recovering — or is this just a relief rally? Current Situation This isn't a major trend analysis; it's a short-term study, meaning I'm looking at the next 1–4 weeks. It's highly sensitive to news-driven moves. After the 1,506 low, ETH quietly made a higher low and broke above the critical 1,678 level. This break broke the short-term downtrend. Price is now at 1,738 and buyers are on the field. So the picture has clearly changed compared to June. In short, we can say the short-term direction is now up. Conclusion But there's also a cautious side to this. WaveTrend gave a bullish crossover, yet right in the overbought zone. Moves this fast usually call for a breather. That's why a retest of the broken 1,678 (POC) wouldn't surprise me — in fact it could be healthy. As long as price holds above 1,678, my eyes are on 1,767 and 1,828 above. The levels I'm watching below are 1,678 (the retest floor) and 1,610. Do you think this is a reversal, or just a bounce?