$ETH has formed an ascending triangle pattern on the 8 hour chart which is a bullish continuation signal.

This pattern suggests that buyers are gaining control and a breakout could bring substantial upside movement.

Let’s break it all down:

Key Levels to Watch.

1 Buy Zone:

$3,900 - $4,050

This range is ideal for accumulation as Ethereum is consolidating near the resistance of the triangle.

2 Targets:

First Target: $4,300

Second Target: $4,500

3 Stop Loss:

Place a stop loss below $3,750 to manage risks if the pattern fails.

Why This Setup Looks Promising.

1. Bullish Structure: The ascending triangle shows higher lows indicating strong buying interest.

2. Volume Confirmation: Look for increasing volume during the breakout to validate the move.

3. Market Sentiment: Ethereum is benefiting from broader crypto market strength.

What’s Next.

Before Breakout: Accumulate within the buy zone but keep an eye on rejection around $4,100.

On Breakout: A close above $4,150 (triangle resistance) signals strength.

Use the breakout to add more positions.

Watch for Retests: If ETH retests the $4,100 level after breaking out it could be a final chance to enter.

Pro Tip:

Stick to your risk reward ratio (minimum 1:2).

Monitor key news events or announcements that could impact Ethereum's price movement.

Ethereum is showing a strong potential for a rally, but always stay cautious and adjust your positions based on market conditions. Happy trading.

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