Ethereum (ETH/USD) is trading within a clearly defined ascending channel, showing consistent higher highs and higher lows. Recent price action suggests a strong bullish continuation, supported by multiple bounces off the channel's lower boundary (highlighted with green arrows). The chart outlines a potential breakout scenario above the $3,850 level, with a target near the $4,050 mark. A breakout confirmation could trigger further bullish momentum as the price tests the upper boundary of the channel. Traders should watch for volume confirmation and reaction near the $3,850-$3,900 resistance zone.
Chart Summary:
Timeframe: 45-minute
Current Price: $3,782.39
Channel Range: ~ $3,500 to $4,050
Key Pattern: Ascending parallel channel
Recent Movement: Bounce from channel support with consolidation near mid-range
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🔍 Key Observations:
1. Bullish Channel Structure:
ETH is moving within a well-defined ascending channel.
The price has bounced off the lower trendline multiple times (green arrows), indicating strong buyer interest at lower levels.
Each correction has been shallow, confirming bullish market structure.
2. Breakout Potential:
A symmetrical triangle/compression pattern has formed within the channel, suggesting a possible breakout soon.
Projection arrows imply a likely bullish breakout, targeting the $4,000–$4,050 resistance area.
3. Support & Resistance Levels:
Immediate support: $3,750–$3,770 (triangle and channel support)
Resistance: $3,850 (mid-channel & breakout level), then $3,950–$4,050 (target zone)
4. Volume & Momentum:
Momentum is currently consolidating, a typical setup before a breakout.
Watch for an increase in volume and strong bullish candles above $3,850 to confirm the breakout.
5. Fundamental Catalyst Zone:
Icons below the price indicate upcoming economic events that could cause volatility — possibly U.S. data releases. These may impact ETH/USD volatility in the short term.
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📈 Conclusion:
Ethereum remains bullish within the ascending channel, and price action suggests a high-probability breakout toward $4,000+. As long as ETH holds above $3,750, bulls are in control. A decisive move above $3,850 with volume may trigger the next leg up. Caution is warranted around key economic events, which may act as breakout catalysts.
Chart Summary:
Timeframe: 45-minute
Current Price: $3,782.39
Channel Range: ~ $3,500 to $4,050
Key Pattern: Ascending parallel channel
Recent Movement: Bounce from channel support with consolidation near mid-range
---
🔍 Key Observations:
1. Bullish Channel Structure:
ETH is moving within a well-defined ascending channel.
The price has bounced off the lower trendline multiple times (green arrows), indicating strong buyer interest at lower levels.
Each correction has been shallow, confirming bullish market structure.
2. Breakout Potential:
A symmetrical triangle/compression pattern has formed within the channel, suggesting a possible breakout soon.
Projection arrows imply a likely bullish breakout, targeting the $4,000–$4,050 resistance area.
3. Support & Resistance Levels:
Immediate support: $3,750–$3,770 (triangle and channel support)
Resistance: $3,850 (mid-channel & breakout level), then $3,950–$4,050 (target zone)
4. Volume & Momentum:
Momentum is currently consolidating, a typical setup before a breakout.
Watch for an increase in volume and strong bullish candles above $3,850 to confirm the breakout.
5. Fundamental Catalyst Zone:
Icons below the price indicate upcoming economic events that could cause volatility — possibly U.S. data releases. These may impact ETH/USD volatility in the short term.
---
📈 Conclusion:
Ethereum remains bullish within the ascending channel, and price action suggests a high-probability breakout toward $4,000+. As long as ETH holds above $3,750, bulls are in control. A decisive move above $3,850 with volume may trigger the next leg up. Caution is warranted around key economic events, which may act as breakout catalysts.
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Clean charts | 🔍 Deep analysis | 📈 Consistent setups”
MY FREE FOREX &CRYPTO SIGNALS TELEGRAM CHANNEL:
t.me/+4KSkqllbBldiZDY8
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t.me/+4KSkqllbBldiZDY8
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.