Ethereum’s 1H Chart Screams Breakout — Next Stop $3,941?Ethereum has recently broken above a short-term descending trendline that had been guiding the market lower over the past sessions. This breakout occurred after price formed a strong base around the $3,357 support zone, indicating that sellers were losing momentum. The “B” buy signals printed near these lows further strengthen the bullish outlook.
The immediate resistance lies around $3,559, which is the level price is currently approaching. If buyers can maintain momentum above this area, the next upside targets are $3,576, $3,680, $3,717, and $3,773. The major resistance and projected take-profit area is near $3,941.
From a structural standpoint, the shift from lower lows to higher lows suggests that the short-term trend may be reversing in favor of buyers. This aligns with the increased buying volume observed after the breakout, hinting at potential follow-through in the next London or New York session.
Trading Setup
• Entry: Around $3,553 after breakout confirmation
• Stop-loss: Below $3,357
• Take-profit 1: $3,680
• Take-profit 2: $3,773
• Final Target: $3,941
• Risk-Reward: Approximately 1.89:1
