$ETH

ETH Price Analysis: Breakout from Ascending Triangle, Next Target $3900?

ETH price has strongly broken above $3550 and closed above it, completing a typical bullish ascending triangle pattern. Bullish sentiment is high, but bears are not sitting idle. What should we do next? Let's analyze together!

The current 20-day moving average ($3543) has started to tilt upwards, and the RSI indicator is in the positive territory, indicating that bulls are still in control.

The breakout target for the ascending triangle pattern is $3900, and bulls are expected to push further.

If the price is pushed back below $3550, it may scare off aggressive bulls in the short term. At that point, ETH may retrace to the ascending trend line, which is a critical level that bulls need to defend.

Support Levels:

$3550: The core position for the battle between bulls and bears; if it breaks, it will weaken the short-term bullish outlook.

Ascending Trend Line: If $3550 is lost, this is a key defensive point.

Resistance Levels:

$3900: This is the first target after the breakout from the ascending triangle and the next battleground for bulls.

Brothers, the current ETH trend is stable with an upward attack; $3550 is the dividing line in the current battle between bulls and bears. If it holds, the target is directly aimed at $3900; if it fails to hold, it may trigger a deeper correction.