Ethereum ($ETH H) is consolidating within a symmetrical triangle on the weekly timeframe—a pattern that often precedes significant price moves.
Here's what traders need to know:
Key Levels to Watch
Resistance: A breakout above $2,000 could signal bullish momentum.
Support: Holding above $1,550 is critical for bullish sentiment.
Potential Targets on Breakout
Target 1: $4,850
Target 2: $6,000
Target 3: $7,500
Technical Insight
Volume: Declining volume suggests the breakout is nearing.
Watch for a surge in volume to confirm direction.
Indicators: RSI trending neutral; any push above 60 could fuel buying pressure.
Bullish Scenario: Wait for a clear breakout above resistance and confirm with volume for long positions.
Bearish Scenario: A breakdown below $1,550 could lead to a test of $1,200.
Pro Tip: Be Patient
Symmetrical triangles often lead to sharp moves. Set alerts, manage risks,
and let the market reveal its direction.
Stay tuned and trade smart!
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