Ethereum has been consolidating within a massive symmetrical triangle pattern on the weekly timeframe. The current price action is testing the lower trendline support around $1,850, which has held strong multiple times before.
🔹 Trendline Support – The long-term ascending trendline (blue) has been tested numerous times and remains intact, indicating strong buying pressure at lower levels.
🔹 Symmetrical Triangle – ETH is nearing the apex of the triangle, suggesting an imminent breakout. Historically, symmetrical triangles break in the direction of the preceding trend, which in this case is bullish.
🔹 Potential Upside Move – If bulls manage to hold the support and push higher, the next major resistance lies at $4,000, followed by a potential breakout towards $6,000+.
🔹 Fakeout Risk – A breakdown below the trendline could trigger a deeper correction, possibly down to $1,200 or even $800 if selling pressure intensifies.
🚀 Scenario Analysis
Bullish Breakout (60%): Price holds support, bounces towards $4,000, and targets $6,000+ after a confirmed breakout.
Fakeout & Breakdown (40%): Price fails to hold the trendline, breaking down to $1,200 and potentially lower.
Let's see if bulls can defend this critical support or if bears will take control! 💥
🔹 Trendline Support – The long-term ascending trendline (blue) has been tested numerous times and remains intact, indicating strong buying pressure at lower levels.
🔹 Symmetrical Triangle – ETH is nearing the apex of the triangle, suggesting an imminent breakout. Historically, symmetrical triangles break in the direction of the preceding trend, which in this case is bullish.
🔹 Potential Upside Move – If bulls manage to hold the support and push higher, the next major resistance lies at $4,000, followed by a potential breakout towards $6,000+.
🔹 Fakeout Risk – A breakdown below the trendline could trigger a deeper correction, possibly down to $1,200 or even $800 if selling pressure intensifies.
🚀 Scenario Analysis
Bullish Breakout (60%): Price holds support, bounces towards $4,000, and targets $6,000+ after a confirmed breakout.
Fakeout & Breakdown (40%): Price fails to hold the trendline, breaking down to $1,200 and potentially lower.
Let's see if bulls can defend this critical support or if bears will take control! 💥
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.
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.