CMP: $3,968
Ethereum is holding strong above the symmetrical triangle breakout zone after a textbook breakout + retest. Despite the recent consolidation, the structure remains bullish, and the bigger pattern is still in play.
🔶 Technical Highlights:
✅ Symmetrical Triangle Breakout: ETH successfully broke out and retested the upper trendline (see red circle). This retest confirms the breakout validity.
✅ Consolidation Above Resistance: ETH is consolidating in a tight range above previous resistance, forming a potential bull flag.
✅ Pattern Targets Remain Active:
📍 Symmetrical Triangle Target: ~$7,950
📍 Bull Flag Target (if breakout confirms): ~$7,365+
📈 Market Structure:
📍 Previous breakouts (Bullish Pennant in 2016, Falling Wedge in 2019) led to strong uptrends.
📍 Current consolidation mirrors historical patterns that preceded major rallies.
🟢 Key Level to Watch:
📍 A monthly close above $4,954.16 (previous ATH) would mark the next major confirmation, likely attracting breakout traders and institutions.
💡 ETH is showing maturity in structure – breakouts, retests, and consolidations are happening on higher timeframes with clear technical precision. The longer this base holds, the stronger the eventual move could be.
📌 Disclaimer: This analysis is shared for educational purposes only. It is not a buy/sell recommendation. Please do your own research before making any trading decisions.
#ETH | #Ethereum | #Crypto | #Breakout | #ChartPatterns | #SymmetricalTriangle | #BullFlag | #PriceAction
Ethereum is holding strong above the symmetrical triangle breakout zone after a textbook breakout + retest. Despite the recent consolidation, the structure remains bullish, and the bigger pattern is still in play.
🔶 Technical Highlights:
✅ Symmetrical Triangle Breakout: ETH successfully broke out and retested the upper trendline (see red circle). This retest confirms the breakout validity.
✅ Consolidation Above Resistance: ETH is consolidating in a tight range above previous resistance, forming a potential bull flag.
✅ Pattern Targets Remain Active:
📍 Symmetrical Triangle Target: ~$7,950
📍 Bull Flag Target (if breakout confirms): ~$7,365+
📈 Market Structure:
📍 Previous breakouts (Bullish Pennant in 2016, Falling Wedge in 2019) led to strong uptrends.
📍 Current consolidation mirrors historical patterns that preceded major rallies.
🟢 Key Level to Watch:
📍 A monthly close above $4,954.16 (previous ATH) would mark the next major confirmation, likely attracting breakout traders and institutions.
💡 ETH is showing maturity in structure – breakouts, retests, and consolidations are happening on higher timeframes with clear technical precision. The longer this base holds, the stronger the eventual move could be.
📌 Disclaimer: This analysis is shared for educational purposes only. It is not a buy/sell recommendation. Please do your own research before making any trading decisions.
#ETH | #Ethereum | #Crypto | #Breakout | #ChartPatterns | #SymmetricalTriangle | #BullFlag | #PriceAction
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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.
Related publications
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.