$ETHFI Price Analysis: Descending Triangle Breakout Could Spark Bullish Rally!

#ETHFI is currently forming a descending triangle pattern on the daily chart, and it’s consolidating at the 50-day moving average (MA).

This is a key area for accumulation, and a breakout could lead to a strong bullish move.

Let’s break down the full plan!

Key Levels to Watch

Buy Zone: Between $2.60 and $2.80 – ideal entry near the MA 50 and support area.

Targets:

First Target (T1): $3.15

Second Target (T2): $4.20

Third Target (T3): $5.20

Stop Loss (SL): Set at $2.40 to manage risk.

Trading Strategy

1. Wait for Breakout Confirmation: Look for a daily candle closing above the resistance of the descending triangle (around $3.00).

2. Entry: Enter positions in the $2.60–$2.80 range if the price shows signs of bouncing.

3. Risk Management: Use a stop loss at $2.40 to limit potential losses.

4. Profit-Taking Strategy:

Take partial profits at $3.15.

Secure more gains at $4.20.

Let the rest run toward $5.20 for maximum upside.

Scenarios to Monitor

1. Bullish Breakout:

If ETHFI breaks above $3.00 with strong volume, expect a strong move towards the targets at $3.15, $4.20, and $5.20.

A retest of $2.80 as support would confirm the breakout.

2. Bearish Rejection:

If $ETHFI fails to break out and falls below $2.40, it could indicate further downside potential.

Final Thoughts

$ETHFI is at a crucial point, and the descending triangle pattern suggests a potential breakout soon.

Watch for volume confirmation and be ready to act!

Stick to your plan, and manage your risk carefully.