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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