Ethereum (ETH) Breaks Descending Trendline – Eyeing $4,000?
Description:
Ethereum has officially broken out of a long-term descending trendline on the daily timeframe, signaling a potential trend reversal. After holding support near the $1,500–$1,600 zone, ETH has started forming higher lows and is now aiming for key resistance zones. A bullish scenario could see price rally toward $2,800, with a possible extension toward the $3,500–$4,000 zone if momentum continues.
The breakout is supported by strong price structure and rejection from major demand zones, making this a chart worth watching closely. Will the bulls take control and drive ETH back to 2024 highs?
Technical Levels to Watch:
• Support: $1,840 / $1,600
• Resistance: $2,100 / $2,800 / $3,530 / $4,095
Follow for more updates as this setup develops. Let’s see how Ethereum reacts to this breakout!
Stay tuned for live updates & detailed trade setups. Drop your thoughts below and don’t forget to follow for more high-probability analyses!
Description:
Ethereum has officially broken out of a long-term descending trendline on the daily timeframe, signaling a potential trend reversal. After holding support near the $1,500–$1,600 zone, ETH has started forming higher lows and is now aiming for key resistance zones. A bullish scenario could see price rally toward $2,800, with a possible extension toward the $3,500–$4,000 zone if momentum continues.
The breakout is supported by strong price structure and rejection from major demand zones, making this a chart worth watching closely. Will the bulls take control and drive ETH back to 2024 highs?
Technical Levels to Watch:
• Support: $1,840 / $1,600
• Resistance: $2,100 / $2,800 / $3,530 / $4,095
Follow for more updates as this setup develops. Let’s see how Ethereum reacts to this breakout!
Stay tuned for live updates & detailed trade setups. Drop your thoughts below and don’t forget to follow for more high-probability analyses!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.