🧠 1. Chart Pattern Overview:
The chart depicts a massive symmetrical triangle or contracting wedge formation stretching from early 2021 till now (mid-2025). This is a long-term consolidation pattern, suggesting a major breakout is likely imminent.
Elliott Wave Count (ABCDE Structure):
It follows a classic ABCDE triangle correction pattern:
A: Start of the bearish correction
B: Retracement rally
C: Capitulation dip (2022/2023 bottom)
D: Current push toward resistance (~$2,800)
E (potential): Expected minor pullback before a major breakout
💹 2. Key Levels (Support/Resistance):
Level Type Comment
$2,448 MA Support 200-week MA (in green)
$2,696 MA Resistance Price near golden cross zone
$2,814 Current Price Testing top of wedge (wave D)
$4,868 Historical High 2021 ATH zone
$4,981.93 Key Resistance Breakout target zone
$6,618–7,535 Target Zone Final measured move post-breakout
📐 Technical Indicators:
RSI (Relative Strength Index):
Weekly RSI at ~57: Trending upward, nearing breakout momentum.
Massive descending RSI trendline (since 2021) has been broken, suggesting long-term momentum shift to the upside.
RSI bullish divergence visible between waves C and E.
Volume:
Noticeable volume compression, common before explosive moves.
Watching for volume breakout confirmation (preferably on a weekly close above $3,000).
🔁 Scenario Analysis:
✅ Bullish Scenario (High Probability):
ETH breaks above wave D resistance (~$2,800–3,000).
Post-E breakout toward $4,900, followed by continuation toward $6,600–$7,500.
RSI breakout + triangle resolution = massive upside momentum.
Volume breakout will likely confirm the move.
⚠️ Neutral/Bearish Scenario:
ETH fails to break above wave D (~$2,800–3,000), rolls down toward wave E, which may retest $2,200–$2,400 support.
This forms the final leg (E) of the triangle before real breakout.
📏 Measured Move (Triangle Breakout Target):
Height of triangle: ~$3,500 (from ~$4,800 to ~$1,300)
Breakout target from apex: $6,500–$7,500, aligning with red horizontal resistance lines.
🎯 Conclusion & Strategy:
⚠️ Currently in a high-risk, high-reward zone. ETH is testing the triangle resistance and may either:
Break out above $3,000 → Strong long opportunity with target $4,900 → $6,600+
Reject and retrace to $2,200–$2,400 (wave E) → Final buying opportunity before breakout
📊 Actionable Summary:
Signal Status
Triangle Pattern Forming end of Wave D
RSI Bullish momentum
Volume Compression phase
MA Cross Bullish golden cross
Breakout Confirmation Weekly close > $3,000
Entry Zone $2,600–2,800 (partial)
Safer Entry On retest post-breakout
Long-term Target $6,600 – $7,535
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The chart depicts a massive symmetrical triangle or contracting wedge formation stretching from early 2021 till now (mid-2025). This is a long-term consolidation pattern, suggesting a major breakout is likely imminent.
Elliott Wave Count (ABCDE Structure):
It follows a classic ABCDE triangle correction pattern:
A: Start of the bearish correction
B: Retracement rally
C: Capitulation dip (2022/2023 bottom)
D: Current push toward resistance (~$2,800)
E (potential): Expected minor pullback before a major breakout
💹 2. Key Levels (Support/Resistance):
Level Type Comment
$2,448 MA Support 200-week MA (in green)
$2,696 MA Resistance Price near golden cross zone
$2,814 Current Price Testing top of wedge (wave D)
$4,868 Historical High 2021 ATH zone
$4,981.93 Key Resistance Breakout target zone
$6,618–7,535 Target Zone Final measured move post-breakout
📐 Technical Indicators:
RSI (Relative Strength Index):
Weekly RSI at ~57: Trending upward, nearing breakout momentum.
Massive descending RSI trendline (since 2021) has been broken, suggesting long-term momentum shift to the upside.
RSI bullish divergence visible between waves C and E.
Volume:
Noticeable volume compression, common before explosive moves.
Watching for volume breakout confirmation (preferably on a weekly close above $3,000).
🔁 Scenario Analysis:
✅ Bullish Scenario (High Probability):
ETH breaks above wave D resistance (~$2,800–3,000).
Post-E breakout toward $4,900, followed by continuation toward $6,600–$7,500.
RSI breakout + triangle resolution = massive upside momentum.
Volume breakout will likely confirm the move.
⚠️ Neutral/Bearish Scenario:
ETH fails to break above wave D (~$2,800–3,000), rolls down toward wave E, which may retest $2,200–$2,400 support.
This forms the final leg (E) of the triangle before real breakout.
📏 Measured Move (Triangle Breakout Target):
Height of triangle: ~$3,500 (from ~$4,800 to ~$1,300)
Breakout target from apex: $6,500–$7,500, aligning with red horizontal resistance lines.
🎯 Conclusion & Strategy:
⚠️ Currently in a high-risk, high-reward zone. ETH is testing the triangle resistance and may either:
Break out above $3,000 → Strong long opportunity with target $4,900 → $6,600+
Reject and retrace to $2,200–$2,400 (wave E) → Final buying opportunity before breakout
📊 Actionable Summary:
Signal Status
Triangle Pattern Forming end of Wave D
RSI Bullish momentum
Volume Compression phase
MA Cross Bullish golden cross
Breakout Confirmation Weekly close > $3,000
Entry Zone $2,600–2,800 (partial)
Safer Entry On retest post-breakout
Long-term Target $6,600 – $7,535
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Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.