Upward breakout for ETH monthly?

🟣 Ethereum Monthly Timeframe Analysis – Large Symmetrical Triangle

📌 Current Situation:
• On the monthly chart (1M), Ethereum (ETH) has formed a large symmetrical triangle pattern.
• This pattern typically signals a major price consolidation before a significant move.
• The descending resistance line connects the 2021 all-time high to recent lower highs.
• The ascending support line is drawn from the 2018 low through the 2022 bottom.
• Price is nearing the apex of the triangle, indicating a breakout is likely soon.

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🔼 Bullish Scenario (Breakout to the Upside):

If ETH breaks above the triangle resistance and confirms the move:

✅ Signs of a Bullish Continuation:
• Strong breakout above the $4,000–$4,500 zone
• Increased volume confirming breakout
• Price holds above resistance-turned-support

🎯 Potential Price Targets by 2027 (based on triangle height & Fibonacci projections):
1. Target 1: $6,800 – $7,500
2. Target 2: $9,000 – $10,000
3. Long-term Target: $12,000 – $15,000 (if macro bull market continues)

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🔽 Bearish Scenario (Fakeout or Breakdown):

If the breakout fails or price breaks down:
• ETH could revisit lower supports around $2,000 or even $1,400
• Bullish momentum delayed until another strong base forms

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🔍 Conclusion:
• This triangle could mark the beginning of a major rally into 2027, especially if supported by fundamentals (e.g., ETF approval, DeFi growth).
• Wait for a confirmed breakout with volume and retest before entering a long-term position.