The regional banking sector is approaching a critical technical juncture. The exchange-traded fund tracking this sector is consolidating just below a key resistance level at 70. This price action is setting up for a potential breakout above this level, which would be a positive technical development. However, the current pattern also presents the risk of forming a double top, a bearish reversal pattern, if the price fails to break higher. The sector's near-term direction hinges on this upcoming price move.