(ETH/USD) Poised for a Major BreakoutMarket Structure & Analysis:
Falling Wedge Breakout: Ethereum previously broke out of a falling wedge pattern, which is a bullish reversal signal.
Ascending Triangle Formation: Price is currently forming an ascending triangle, indicating potential for a breakout.
Support Levels:
$2,021 – Local support.
$1,926 - $1,873 – Strong demand zone.
Resistance Levels:
$2,120 - $2,251 – First resistance zone.
$2,531 - $2,564 – Final bullish target zone.
Trading Plan:
Buy Setup:
Enter long on breakout above $2,120 with strong momentum.
Stop Loss: Below $2,021 (support level).
Take Profit Targets:
TP1: $2,251 (first resistance).
TP2: $2,531 (main target).
TP3: $2,564 (extended bullish target).
Risk Factors:
A failure to break $2,120 could result in a pullback to $1,926.
Macroeconomic factors or Bitcoin’s movement may impact Ethereum’s trend.
