Ethereum (ETH/USD) - Falling Wedge Breakout Setup!

Overview:
A potential bullish breakout from a falling wedge pattern, signaling a trend reversal.

Key Technical Insights:
🔹 Falling Wedge Formation:

Ethereum price has been trending downward inside a falling wedge, a common bullish reversal pattern.
The price is now testing the upper wedge resistance, indicating a possible breakout.
🔹 Support & Resistance Levels:

Support: Near 2,665 - 2,663 USD, acting as a strong downside cushion.
Resistance: The price needs to break above 2,694 USD to confirm the breakout.
🔹 Target Projection:

A breakout above the wedge could push the price up by 5.35% (144 USD) towards the 2,839 USD take-profit level.
Trade Plan:
📌 Entry Strategy:

Enter after confirmation of a breakout above 2,694 USD with volume.
A retest of the wedge breakout zone could provide a better risk-to-reward entry.
📌 Stop Loss:

Placed below 2,663 USD, invalidating the breakout if breached.
📌 Take Profit Target:

Around 2,839 USD, aligning with the measured move of the pattern.
Final Thoughts:
✅ Breakout potential is strong – wait for confirmation!
✅ Bullish momentum could drive ETH towards the 2,839 USD target.
✅ If price drops below 2,663 USD, consider exiting as the setup is invalidated.

📈 Watch for volume increase to confirm the breakout. 🚀