Ethereum (ETH/USDT) Perpetual Futures – Monthly Chart Analysis Overview:
Ethereum is currently testing a significant price zone after breaking out of a long-term symmetrical triangle pattern on the monthly chart. The recent drop has brought ETH to a major support area, which could act as a strong demand zone before a potential reversal.
Key Observations:
Symmetrical Triangle Breakdown:
ETH/USDT formed a symmetrical triangle over multiple years, representing a period of consolidation.
The price recently broke below the lower boundary of this pattern, leading to a sharp decline.
Major Support Zone (Potential Bounce Area):
The black box highlights a key demand zone between $1,750 – $1,800.
This area previously acted as a support level in the past market cycles.
If buyers step in, ETH could see a strong rebound from this region.
Reversal Area Target ($6,000+):
The chart suggests a potential long-term rally if ETH holds the current support and reclaims key resistance levels.
The expected price trajectory follows a higher-high, higher-low pattern toward the $6,000 zone.
This target aligns with the previous all-time high zones and Fibonacci extension levels.
Bearish Scenario (Risk Consideration):
If ETH fails to hold the $1,750 support, the next significant support level is near $1,500 - $1,200.
A continued downtrend could invalidate the bullish recovery scenario.
Trading Strategy Considerations:
✅ Bullish Setup (Rebound from Support)
Entry: Near $1,750 - $1,800, looking for a bullish confirmation (e.g., daily/weekly green candle).
Target 1: $2,500 (prior support turned resistance).
Target 2: $3,500 (mid-range resistance).
Target 3: $6,000 (full breakout target).
Stop-loss: Below $1,700, in case of further breakdown.
❌ Bearish Setup (Breakdown Below Support)
If ETH closes below $1,750, the next downside targets are:
$1,500 (key psychological level).
$1,200 (historical support zone).
Conclusion:
Ethereum is at a make-or-break point after breaking its long-term triangle pattern.
Holding $1,750 could spark a massive bullish reversal, with potential upside toward $6,000+.
A failure to hold support may lead to deeper corrections.
Traders should monitor the $1,750 level closely for confirmation before entering positions.
🚀 What’s Next?
Watch for bullish price action signs (e.g., long wicks, strong green candles) around the $1,750-$1,800 area before making a move. If ETH reclaims $2,500, it could signal a strong recovery phase.
