Ethereum (ETHUSD) is currently trading within a well-defined ascending channel on the weekly timeframe, indicating sustained bullish momentum. This structure suggests higher lows and higher highs, consistent with a long-term uptrend.
Based on this formation, I’ve identified four key target zones as ETH continues to respect the channel boundaries:
Target 3345.18: Initial resistance area, likely a short-term reaction zone
Target 4014.90: Mid-channel resistance — potential consolidation point
Target 5952.31: Upper bound of the channel — critical breakout test
Target 7331.62: Extension level — price discovery zone if breakout is confirmed
Traders should monitor price action closely near each level. A strong breakout above the channel top could signal continuation toward uncharted highs, while a breakdown may invalidate the pattern.
Disclaimer: This is not financial advice. Please do your own research and manage risk accordingly.
Based on this formation, I’ve identified four key target zones as ETH continues to respect the channel boundaries:
Target 3345.18: Initial resistance area, likely a short-term reaction zone
Target 4014.90: Mid-channel resistance — potential consolidation point
Target 5952.31: Upper bound of the channel — critical breakout test
Target 7331.62: Extension level — price discovery zone if breakout is confirmed
Traders should monitor price action closely near each level. A strong breakout above the channel top could signal continuation toward uncharted highs, while a breakdown may invalidate the pattern.
Disclaimer: This is not financial advice. Please do your own research and manage risk accordingly.
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.
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.