🚀 ETH BREAKOUT ALERT: Is the Bear Trend Finally Over?
Ethereum is waking up! 💎 The Daily chart just gave us the signal we’ve been waiting for. Look at that Trendline Break! 👇
Here is the technical breakdown of what is happening right now on $ETH:
1. The Trendline Break 💥
As you can see in the chart (orange line), ETH has been stuck under a heavy descending resistance. WE JUST BROKE IT!
• Price is currently trading at $3,137, pushing cleanly above that diagonal resistance.
• This is a classic "Breakout" setup. If we close the daily candle above this line, the bearish structure is invalid!
2. Bollinger Bands & Momentum 📊
• The Squeeze: We are trading above the Middle Band ($2,976) and pushing towards the Upper Band ($3,216). This indicates strong bullish pressure.
• RSI Check: The RSI(6) is sitting at 61.32. This is the "Sweet Spot"—it shows strong buying momentum but is NOT overbought yet. We have room to pump! ⛽️
3. Key Levels to Watch 👀
• Support (Safety Net): The $2,623 level proved to be a massive double-bottom support. We need to stay above $2,976 (Middle Band) to maintain this uptrend.
• Resistance (Target): The immediate target is the 24h High at $3,180 and the Upper Band at $3,216. If we clear that, the road to $3,500 opens up.
💡 Strategy
Watch for a Retest. Often, price breaks out, comes back down to touch the orange line (turning resistance into support), and then blasts off. 🚀
Are you Long or Short on ETH right now? Drop your targets below! 👇
