Ethereum Breaks Out Of Descending Triangle Pattern Fakeout Or Recovery Rally?

Ethereum (ETH) has been struggling around the $2,200 level, with bulls unable to reclaim higher prices despite multiple attempts. The market sentiment remains bearish, as ETH continues to face selling pressure even after Thursdays announcement of the US Strategic Bitcoin Reserve, which many had expected to boost overall confidence in the crypto sector. Related Reading: 330,000 Ethereum Withdrawn From Exchanges In 72 Hours Supply Squeeze Incoming? As ETH hovers near critical demand levels, analysts believe that the next week will be crucial in determining its short-term direction. If bulls can defend key support zones, Ethereum may have a chance to regain momentum. However, failure to hold these levels could lead to further downside pressure. Top analyst Carl Runefelt shared a technical analysis on X, highlighting that Ethereum is breaking out of a pattern that often signals a potential breakout. If ETH follows this setup, it could push into higher resistance zones and reclaim key price levels above $2,500. However, confirmation of this breakout is needed, as market volatility remains high. Ethereum Bulls Hope For A Recovery Ethereum has suffered a steep decline, losing over 50% of its value since late December, triggering fear and panic selling across the market. Once a leader in previous bull cycles, ETH is now struggling to regain momentum, leading many analysts to question whether the long-awaited altseason will happen this year. With Ethereum and most altcoins unable to reclaim bullish structures, the market remains under bearish control, keeping investors cautious. Despite the negative sentiment, there is still hope for a recovery as Ethereum approaches key technical levels that could determine its next move. Runefelt’s remarks reveal that ETH is breaking above a descending triangle pattern, a setup that often signals a trend reversal. However, confirmation is crucial, as many past breakouts have turned into fakeouts, trapping traders in further downside moves. For Ethereum to solidify a bullish breakout, it must push above and close above $2,300. This level is a key resistance zone, and flipping it into support would indicate renewed buying strength, potentially opening the door for a push toward $2,500 and higher price targets. Related Reading: Solana Consolidates In A Wide Range Big Move On The Horizon? Until this confirmation happens, Ethereum remains at risk of further declines if sellers regain control. Traders and investors are closely watching whether ETH can maintain its breakout attempt or if it will face another rejection, extending its bearish trend into the coming weeks. ETH Key Levels To Watch Ethereum is currently trading above the $2,000 support level, a crucial last line of defense for bulls hoping to see strong performance this year. Holding this level is essential, as a breakdown below $2,000 could trigger further downside, reinforcing bearish sentiment in the market. Despite this, bulls have struggled to reclaim higher prices, leaving investors frustrated with ETHs lack of momentum. Recent price action has been choppy and indecisive, with each attempt at a breakout quickly met with selling pressure. This has kept ETH stuck in a tight range, preventing a clear shift in market sentiment. Related Reading: Litecoin Holds Bullish Outlook As the MVRV Ratio Signals Strength Analyst However, a decisive reclaim of $2,300 could mark a turning point. If ETH pushes above and holds this level, it would likely open the door for a move toward $2,500, strengthening the case for a recovery rally. Until then, traders remain cautious, as Ethereums struggle to gain traction continues to weigh on the broader altcoin market. Featured image from Dall-E, chart from TradingView

View Details

130,000 Ethereum Moved Off Exchanges Bullish Signal?

Ethereum (ETH) is trading at its lowest levels since late 2023, struggling to regain momentum after an extended period of selling pressure. Since December 2024, ETH has lost over 57% of its value, failing to reclaim key resistance levels. With the broader crypto market facing macroeconomic uncertainty and persistent volatility, Ethereum’s downtrend appears far from over. Related Reading: 640,000 Chainlink (LINK) Withdrawn From Exchanges In 24 Hours Bullish Accumulation? Despite the ongoing decline, on-chain data suggests that large investors may be positioning for a recovery. According to CryptoQuant, whales have moved over 130,000 ETH off exchanges in the past week, signaling a growing accumulation trend. This pattern has been developing since Ethereum started trending downward, suggesting that institutional players and long-term holders are buying the dip in anticipation of future price appreciation. While short-term sentiment remains bearish, historical data shows that large whale accumulations often precede strong rebounds once selling pressure fades. However, ETH still faces significant resistance, and bulls must reclaim key levels to confirm a potential trend reversal. With market uncertainty still looming, the next few weeks will be critical in determining Ethereums next major move. Ethereum Whale Activity Hints At Optimism Ethereum has been under massive selling pressure, struggling amid macroeconomic uncertainty and trade war fears that have shaken both the crypto market and the U.S. stock market. ETH is now trading below a multi-year support level, which could act as a strong resistance in the coming weeks. If bulls fail to reclaim key price levels, the stage could be set for a deeper correction. However, not all indicators are bearish. Despite the ongoing downtrend, some analysts remain optimistic about Ethereums long-term prospects. Top analyst Ali Martinez shared insights on X, revealing that whales have moved over 130,000 ETH off exchanges in the past week. This is significant because large investors typically move their holdings off exchanges when they plan to hold for the long term rather than selling. When whales transfer ETH into private wallets, it often signals accumulation rather than immediate selling pressure. Historically, such trends have preceded market rebounds, as reduced exchange supply can contribute to price stability and future upside potential. Related Reading: Whales Accumulate Over 150 Million XRP In Just 48 Hours Is A Rally Incoming? While Ethereum still faces major hurdles, whale activity suggests that smart money is positioning itself for the next move. The next few weeks will be crucial in determining whether ETH can reverse its downward trend or if further declines are ahead. Bulls Fight to Hold Key Levels Ethereum is currently trading at $1,904, struggling to regain momentum after days of consolidation below the $2,000 mark. The ongoing selling pressure has kept ETH under key resistance, making it difficult for bulls to reverse the trend and start a recovery. For Ethereum to regain a bullish outlook, bulls must reclaim the $2,000 level as soon as possible. A sustained push above this resistance would signal strength and could set the stage for a rally toward higher levels, potentially testing $2,250$2,400 in the coming weeks. However, if ETH loses current levels of demand, the next major liquidity zone sits around $1,600. A breakdown below $1,750 could trigger further sell-offs, leading to an extended bearish phase that could delay any potential recovery. Related Reading: Cardano Is About To Break Free Breakout Above Crucial Supply To Trigger A Big MoveAnalyst With whale accumulation increasing and on-chain data suggesting reduced exchange supply, some analysts believe Ethereum could soon attempt a breakout. However, macroeconomic conditions and overall market sentiment remain critical factors in determining ETHs short-term trajectory. Bulls will need strong buying pressure to reclaim lost ground and avoid a deeper decline. Featured image from Dall-E, chart from TradingView

View Details

Ethereum Bullish Signal: $560M In ETH Exits Exchanges

On-chain data shows a large amount of Ethereum has left exchange wallets within the past two days, a sign that could be bullish for the price. Ethereum Supply On Exchanges Has Plunged In The Last 48 Hours As an analyst on Twitter pointed out, about 310,000 ETH has exited exchanges in the past 48 hours. [...]

The post Ethereum Bullish Signal: $560M In ETH Exits Exchanges appeared first on Crypto Breaking News.

View Details

Ethereum Trades Inside A Multi-Year Bullish Pennant Analyst Sees A Breakout Above $4K

Ethereum experienced one of the craziest days in its history last Monday, plunging over 30% in less than 24 hours amid widespread market panic fueled by U.S. trade war fears. However, within hours, ETH staged an impressive recovery following President Trumps announcement of negotiations with Canada and Mexico to ease tariff concerns. This sharp rebound has reignited optimism among investors, with many now closely watching Ethereums next move. Related Reading: Bitcoin Looks Stronger Compared To Altcoins Demand Remains Strong As Price Consolidates In A Range Despite the recent volatility, top analyst Jelle shared a technical analysis revealing that Ethereum is still trading within a massive bullish pennant that has been forming since 2021. This long-term structure suggests that ETH remains in a consolidation phase, building momentum for a breakout. According to Jelle, once Ethereum decisively breaks out of this pattern, a massive rally into price discovery is expected. As the market stabilizes and investors reassess their positions, ETH remains one of the most closely watched assets. While short-term price action is unpredictable, the long-term bullish structure provides strong support for Ethereums growth potential. Traders and analysts alike are now looking for key technical signals that could confirm a breakout and propel ETH into new all-time highs. Ethereum Struggles Below Key Supply Levels Ethereum is currently facing serious selling pressure, struggling to reclaim the crucial $3,000 mark. Bulls are in trouble as ETH remains trapped below this level, leading to heightened uncertainty and volatility in the market. Related Reading: Ethereum Is Testing Key Support on the ETH/BTC Chart A Parabolic Move Could Be Next  Every day that Ethereum trades below $3,000 increases the likelihood of a deeper correction, as traders remain cautious and sentiment weakens. The inability to gain momentum above this psychological level has left investors concerned about ETHs short-term direction. However, despite the ongoing struggles, top analyst Jelle shared a technical analysis on X, revealing that Ethereum is still trading inside a massive bullish pennant. According to Jelle, ETH has deviated from both the highs and the lows of the pattern, and now the market is setting its direction to tag key supply levels. This means that while short-term price action remains uncertain, Ethereums long-term structure suggests that a breakout could be on the horizon. Jelle believes that once Ethereum manages to push above the bullish structure, a break above the $4,000 mark will follow. This breakout would confirm a rally into price discovery, setting the stage for Ethereum to reach new all-time highs. While bears remain in control for now, the long-term bullish formation suggests that ETH could be gearing up for a major move in the coming months. Price Action Details: Technical Levels  Ethereum is currently trading at $2,820, still unable to test the critical $3,000 level. Price action remains weak, as ETH struggles to break above the $2,900 mark, which has now turned into a short-term supply zone. The failure to push higher signals that bulls are losing momentum, and the market remains in a state of uncertainty. If Ethereum loses the $2,800 support level, a deeper correction could unfold, potentially dragging the price down to the $2,500 region. This would be a significant setback for bulls, as it would confirm further downside pressure and could extend the current consolidation phase. On the other hand, if ETH manages to reclaim the $3,000-$3,100 level in the coming days, it would signal renewed bullish momentum. A successful breakout above this range could ignite a massive surge, pushing Ethereum toward higher supply levels and setting the stage for a potential run toward $3,500 and beyond. Related Reading: Solana Breakdown Fails Holding $205 Is Crucial To Trigger a Push Higher For now, Ethereum remains at a crucial juncture, with price action signaling both risk and opportunity. Traders and investors are closely watching key resistance and support levels, as ETH prepares for its next major move. Featured image from Dall-E, chart from TradingView

View Details

Ethereum Holds Key Support Analyst Doubts Bears Can Defend $4K Anymore

Ethereum has been attempting to reclaim the $2,800 level for days, but bears continue to apply selling pressure, keeping the price below this key resistance. Despite this, demand remains strong, with bulls successfully holding ETH above the crucial $2,600 support level. The short-term outlook for ETH remains uncertain, as investors speculate on whether the current consolidation phase will lead to a breakout or further declines. Related Reading: On-Chain Metrics Reveal The Most Critical Resistance For Bitcoin Can BTC Break $97.5K? Despite this, there is a growing sentiment that Ethereum could soon recover. Top analyst Jelle shared a technical analysis on X, revealing that ETH recently took out the lows, retested the key trendline, bounced off key support, and held above the 200-week exponential moving average (EMA). According to Jelle, this confirms that the uptrend structure remains intact, suggesting that ETH still has bullish potential. While price action remains sluggish, Jelles analysis highlights that Ethereum is still holding critical levels, which could lead to a strong move upward. If ETH reclaims $2,800 in the coming days, momentum could build toward a push above $3,000. However, if selling pressure continues and ETH loses $2,600, a deeper retrace could be expected. For now, patience is key as Ethereum hovers near crucial technical levels. Ethereum Price Signals Potential Recovery Phase Ethereum has been attempting to reclaim the $2,800 level for the past few days, with bulls struggling to confirm a recovery rally into higher supply zones. Price action remains uncertain, as investors watch closely to see whether ETH can push past this resistance or if selling pressure will drive it lower. The ongoing volatility has kept traders on edge, with some fearing that Ethereum might continue to drop further, testing lower support levels before any potential recovery. Related Reading: Ethereum Could Target $3,000 Once It Breaks Current Supply Levels Analyst Market sentiment remains divided, with one side expecting a prolonged consolidation or further correction, while the other believes ETH is on the verge of a breakout. Analysts suggest that Ethereum is at a critical juncture, and the coming days could define its short-term trajectory. Jelle’s technical analysis explains that ETH’s recent price action took out its previous lows, retesting the key trendline and holding above the 200-week exponential moving average (EMA) are all good signs. Jelle says the uptrend structure remains intact despite the slow price movement. He acknowledges that this may be one of the slowest uptrends Ethereum has ever experienced, but he still sees bullish momentum building. Jelle also doubts that bears will be able to defend the $4,000 level once more if Ethereum gains strength. As ETH continues to hold key support levels and attempts to reclaim the $2,800 mark, a breakout could lead to a significant rally in the coming weeks. Investors are advised to remain patient as Ethereum navigates this critical phase, with many closely watching for potential trend confirmation. ETH Testing Short-Term Supply Ethereum is trading at $2,805, attempting to hold this level and push higher to confirm a recovery rally. Bulls are trying to establish support at this key price zone, aiming to regain momentum after weeks of consolidation. The price is just 7% away from the critical $3,000 mark, which sits slightly above the 4-hour 200 Moving Average. A break above $2,950 and a successful hold above this level would likely trigger an aggressive bullish recovery, pushing ETH toward higher resistance levels. However, if Ethereum fails to hold above $2,800, the bullish momentum could weaken, leading to another round of selling pressure. In that case, ETH could drop back toward the $2,600 demand zone or even lower. This level has previously acted as strong support, and losing it could indicate further downside risks. Related Reading: Solana Sweeps Lows But Recovers Can Bulls Reclaim $185 by Friday? For now, Ethereum remains at a pivotal point, where bulls must step up to maintain short-term strength. A breakout above resistance could fuel renewed optimism among investors, while failure to sustain current levels may lead to continued market uncertainty. All eyes are on ETHs ability to reclaim and consolidate above key resistance levels to determine its next major move. Featured image from Dall-E, chart from TradingView

View Details

Ethereum Forms A Bullish Pattern Expert Reveals Short-Term Price Target

Ethereum has been trading below the $2,800 mark for the past two weeks as selling pressure at this critical level continues to exhaust bullish momentum. Investors remain cautious amid heightened volatility, fearing that Ethereum could extend its losses if it fails to reclaim key levels. Despite the uncertainty, some analysts see a potential breakout on the horizon. Related Reading: Dogecoin Pulls Back To The Golden Ratio Analyst Expects A Bullish Reversal Top crypto investor Carl Runefelt shared a technical analysis on X, revealing that ETH is currently trading within a 4-hour symmetrical triangle. This pattern suggests that a decisive move is coming, and if Ethereum manages to break out to the upside, it could reclaim key supply levels and push toward $3,000. However, if ETH fails to hold current levels and breaks down from the triangle, further declines could follow. Ethereum has struggled to gain momentum compared to Bitcoin and some other altcoins, raising concerns about its relative weakness in this cycle. Traders are closely monitoring price action, looking for confirmation of the next major move. Whether ETH will break out or see further downside remains uncertain, but the next few trading sessions will likely determine its short-term trajectory. Ethereum Price Testing Crucial Supply Ethereum is attempting to push above the $2,700 mark and hold it as support to confirm the start of a recovery phase. However, the real challenge lies ahead, as the key levels to reclaim remain between $2,800 and $3,000. Analysts warn that if ETH fails to recover these critical supply zones soon, a deeper correction could follow. The market is currently waiting for confirmation in either direction as Ethereum struggles to gain bullish momentum. Carl Runefelt shared a technical analysis highlighting that ETH is trading within a 4-hour symmetrical triangle. This pattern signals an impending breakout, though the direction remains uncertain. Runefelt states that if Ethereum manages to break out to the upside, the immediate target will be the $3,000 resistance level. A breakout above $2,800 would strengthen the bullish case and signal a potential reversal of the recent downtrend. Ethereum has been trading below $3,000 since early February, with selling pressure preventing a breakout. Investor sentiment remains mixed, as some expect ETH to reclaim its bullish trend, while others fear further downside. Volatility remains a major concern, and traders are looking for technical signals to anticipate the next move. Related Reading: Ethereum Historical Indicator Flashes Long-Term Buy Signal Is History Repeating? The coming days will be crucial for Ethereum as it tries to regain strength. If ETH successfully reclaims the $2,800 mark soon, a bullish breakout into the $3,000 zone becomes inevitable. Traders are closely monitoring price action, looking for confirmation of the next major move. Whether Ethereum will reclaim its bullish momentum or face another leg down remains to be seen. ETH Price Action Details: Technical Levels Ethereum is trading at $2,750 after days of attempting to reclaim the $2,700 level. Bulls are fighting to hold this critical support, as maintaining it could provide the momentum needed for a breakout. If ETH holds above $2,700 and manages to push past the $2,800 mark, it could trigger a bullish surge into higher levels, with $3,000 being the next major target. A move above this level would confirm a reversal of the recent bearish trend and strengthen investor confidence. However, uncertainty remains as selling pressure continues to weigh on ETH. If the price fails to hold above $2,700, bears could regain control and drive the price lower. A breakdown below this level would likely lead to further selling pressure, pushing ETH toward lower support zones. Investors are closely watching for a decisive move, as failure to maintain current levels could result in more pain for holders. Related Reading: Avalanche Holds Key Demand Zone Analyst Sets $30 Target If Momentum Holds The next few days will be critical in determining Ethereums short-term trajectory. A successful reclaim of $2,800 would pave the way for a bullish recovery, while losing $2,700 could lead to a deeper correction. Traders remain cautious, waiting for a clear signal before making their next move. Featured image from Dall-E, chart from TradingView

View Details

Ethereum Eyes $3,900 Key Resistance Break Could Spark A Surge

Ethereum has been making waves in the crypto market, reaching its highest levels since June after hitting a local high of $3,688 just hours ago. This impressive price action has sparked excitement among investors and analysts, with many anticipating further surges in the coming hours. Ethereum is now eyeing a breakout above its yearly highs, which could set the stage for an even more aggressive rally. Related Reading: Cardano Whales Buy The Dip Metrics Show Increasing Demand Crypto analyst Carl Runefelt shared a technical analysis on X, highlighting the significance of Ethereum’s current resistance. According to Runefelt, ETH is at a critical juncture, facing a major resistance level that could determine its next move. Should Ethereum break above this barrier, it might quickly pump to $3,900, solidifying its bullish momentum. As the broader market sentiment remains strong, Ethereum’s price action remains unpredictable, especially as it leads altcoins in this upward trend. Investors are now eager to see whether ETH can maintain its upward trajectory and establish new milestones in the days ahead.  Ethereum Reaching New Highs Ethereum is making headlines as it reaches new highs, riding the wave of bullish momentum while Bitcoin consolidates below the $100,000 mark. This rally has positioned Ethereum as a key driver in the altcoin market, which continues to post massive gains and attract investor attention. With the broader market sentiment improving, Ethereums performance is becoming a focal point for traders and analysts alike. Related Reading: XRP Consolidates Below Crucial Resistance Analyst Sets $1.60 Target Crypto analyst Carl Runefelt recently shared a technical analysis on X, emphasizing Ethereums critical resistance level. According to Runefelt, Ethereum is currently at a make-or-break point. A successful breakout above this resistance could trigger a sharp rally, potentially sending ETH to $3,900. If this level is surpassed, Ethereum would likely target yearly highs above $4,000, solidifying its position as a leader in the ongoing market surge. The coming days will be crucial for Ethereum as traders closely watch its ability to maintain upward momentum and overcome these key price levels. With the altcoin market gaining strength and optimism growing, Ethereums next move could set the tone for the broader crypto landscape. Whether it achieves a breakout or consolidates further, the attention on Ethereum highlights its role in shaping this bullish market cycle. ETH Price At A Turning Point Ethereum is currently trading at $3,600, a crucial level that will define its next price direction. As the market watches closely, Ethereums ability to hold above this price will determine whether it can continue its bullish momentum or face a pullback. If ETH maintains strength above $3,600, it is likely to surge further, targeting the next significant milestone: yearly highs at $4,080. A breakout above this level would not only reaffirm the bullish trend but also position Ethereum for a potential continuation toward even higher levels. However, Ethereum could face a short-term correction if it fails to hold above $3,600. The first major demand zone lies at $3,400, which would act as a critical support level. A failure to sustain even this level could lead to further declines, with the next potential support zones forming at lower price ranges. Related Reading: Cardano Reclaims $1 As Network Growth Surges Larger Breakout Ahead? Market sentiment remains cautiously optimistic, with many analysts highlighting the importance of Ethereums current price action. The coming days will be pivotal as investors and traders look for signs of strength or weakness at this critical juncture. Whether Ethereum consolidates further or surges toward new highs, its performance will likely have a significant impact on the broader altcoin market. Featured image from Dall-E, chart from TradingView

View Details

Ethereum Must Stay Above $2,480 For This Bullish Signal To Hold True Analyst

Ethereum (ETH) exhibited a dual-phased market movement in the last week rising by over 9% to reach a local peak of $2,711 on October 30, before declining by an almost similar measure. As the prominent altcoin now hovers around the $2,500 price mark, crypto analyst Ali Martinez has highlighted an important market condition that could ignite a price rebound. Related Reading: Ethereum Blobs Are Insanely Bullish For ETH Price: Breakthrough Research Ethereum Buy Signal Subject To Vital Price Support In an X post on November 1, Martinez stated that TD Sequential has indicated a buy signal on the ETH 4-hour chart. For context, the TD Sequential commonly used trading indicator to signal potential turning points in price trends and provide signals for trend exhaustion or potential price reversals.  Following Ethereums decline over the past 48 hours, TD Sequential has flashed a buy signal, indicating a possible price recovery on the horizon. However, Martinez states that for this bullish signal to prove true, Ethereum must remain above the $2,480 support zone. A potential price drop below this support level would result in a further decline to $2,200, indicating a potential 12% decrease from the tokens current price. However, Ethereum is expected to rebound to around $2,700 if the specified support zone holds.   Interestingly, fellow market analyst Michaël van de Poppe has provided some valuable insights into Ethereums price if this successful price recovery occurs. In a post on X, van de Poppe applauds the resilience of Ethereum despite the rise in US permanent job losses as revealed by the recent unemployment data by the Bureau of Labor Statistics. He also notes ETH has been a range-bound market oscillating between $2,200-$2,700 since August. However, van de Poppe states that if Ethereum returns above $2,700 in the next two weeks, the altcoin may surge to around $3,200 in the next few weeks, finally breaking out of consolidation. In addition, the crypto analyst continues to reiterate his projections of Ethereum to outperform Bitcoin in the coming months as the latter approaches its peak dominance level. Ethereum is expected to lead the “altcoin season” with predictions of hitting a five-digit value next few months. Related Reading: Ethereum Price Completes 12 Weeks Of Bottom Formation, Analyst Says Dont Aim Lower Than $4,900 ATH ETH Price Overview At the time of writing, Ethereum continues to trade at $2,514 following a minor decline in the past day based on data from CoinMarketCap. Meanwhile, the altcoin reports gains of 2.09% and 6.06% in the last seven and thirty days, respectively. ETH’s daily trading volume is also up by 4.70% approaching a value of $20.85 billion. Featured image from MarketWatch, chart from Tradingview.com

View Details

Ethereum Bullish Breakout Confirmed Top Analyst Predicts $3,400 Target

Ethereum (ETH) trades above $2,600 after a 5% retrace from local highs around $2,750. Over the past two weeks, ETH has maintained a bullish trajectory, sparking optimism across the market as investors look for further signs of strength in the price action. Top analyst and investor Carl Runefelt recently shared a technical analysis, highlighting that Ethereum has broken out of a bullish pattern that began forming in early August. According to Runefelt, once ETH confirms solid demand around its current level, its only a matter of days before the next rally kicks off. Related Reading: Solana Could Go Parabolic Starting Today Analyst Sets $370 Target With the broader crypto market gaining momentum, Ethereum is positioned to continue climbing, and investors are closely watching for confirmation of support at this key level. If ETH holds, the next leg up could be targeting higher price zones, adding to the bullish sentiment. The coming days will determine whether Ethereum can resume its upward trend and capitalize on the ongoing market strength. Ethereum Pushing Above $2,600 Ethereum has underperformed compared to Bitcoin this year, leaving many investors concerned as the next bull run approaches. While Bitcoin has surged, Ethereum has struggled to rally with the same strength. This has sparked worry among ETH holders, who expected the second-largest cryptocurrency by market cap to lead the charge. Top analyst Carl Runefelt recently shared a compelling analysis on X. The analysis features a price chart that reveals Ethereum breaking out of a symmetrical triangle on the daily timeframea classic bullish pattern.  If price action holds, it could send ETH to $3,400, according to Runefelts analysis. This breakout is a key signal for Ethereum, but its sustainability depends on whether the price can successfully retest the upper triangle line, which had previously acted as resistance. Currently, Ethereum is testing support at this critical level, with $2,600 being the line in the sand. A close below $2,600 would invalidate the symmetrical triangles bullish thesis and could lead to further downside, putting a dent in the optimism surrounding ETHs future price action.  Related Reading: XRP Network Activity Surges As Price Seeks To Break $0.55 Resistance However, if Ethereum holds above this level, it could signify that the breakout is intact, setting the stage for a strong rally as the broader market prepares for a bull run. The next few days will be crucial for ETHs trajectory. Price Action: Technical Levels To Watch  Ethereum is at $2,620 after failing to reclaim the 200-day exponential moving average (EMA) at $2,795. The price is testing support around the crucial $2,600 level, which will determine the direction of ETH’s price action in the coming days. If Ethereum holds above this level, the next target would be back above the 1D 200 EMA at $2,800. This is a crucial price zone as it aligns with ETH’s local high set in late August at $2,820. A successful breakout above $2,800 would signal a strong bullish continuation, making a push toward higher levels imminent. However, if ETH fails to consolidate above $2,600, the risk of a retracement to lower demand zones becomes increasingly likely.  Related Reading: Dogecoin Breaks Above $0.12 Level Time For DOGE To Catch Up? Traders and investors closely watch these levels as Ethereum seeks to regain momentum amid broader market uncertainty. The next few days will be critical in determining whether ETH continues its upward trend or faces further downside pressure. Featured image from Dall-E, chart from TradingView

View Details