ETH/USDT Breakout Confirmed
$ETH is setting the stage for a major upward move!
Based on the 4-hour chart, the technical indicators are lining up to confirm a new, strong bullish trend for Ethereum. This is a crucial moment for holders.
Key Bullish Signals:
Golden Cross Pattern: The short-term EMA7 has decisively crossed above both the EMA25 and the long-term EMA99. This bullish crossover suggests short-term momentum is now controlling the market direction.
Strong Support: The price is firmly trading above all three major moving averages, which now act as dynamic support zones. The $3,000 to $3,100 region appears to be a major psychological and technical foundation.
Volume Confirmation: The recent surge in volume validates the breakout, indicating genuine buying interest and conviction from institutional and retail traders.
Near-Term Price Targets:
If the price holds above the MA99, we expect ETH to quickly target the following resistance levels:
Target 1 (Immediate): The recent high around $3,200 - $3,350.
Target 2 (Mid-Term): Breaking this range could open the path toward $3,470 - $3,550 or even retesting the previous local highs near $4,000.
Actionable Insight: The risk-reward ratio favors bullish continuation as long as the price maintains a strong close above the MA99. Watch for any high volume drop below the MA25 as a potential short term warning sign.
#ETH #Ethereum #Crypto #TechnicalAnalysis $ETH $USDT #WriteToEarnUpgrade
