ETH has formed a massive symmetrical triangle since the 2021 top (~$4,800).
This triangle has been tightening since 2022 with:
– Lower highs from $4,800 → ~$4,000
– Higher lows from ~$850 → $1,370 → $1,850+
We now close to the apex, meaning a major breakout or breakdown is imminent in the coming weeks/months.
Price Action
ETH is pressing against the upper resistance of the triangle (~$3,850–3,950).
A monthly close above $4,000 would be the first breakout in over 2 years.
Volume
Volume has decreased over time, typical for a symmetrical triangle.
We are looking for volume increase on breakout to confirm it’s on the right track.
Momentum (Laguerre RSI: 0.67)
Momentum is rising, supportive of a bullish breakout.
RSI is not yet overbought, so there’s room for continuation.
Scenarios
Bullish Breakout Scenario:
Trigger: Monthly close above $4,000–4,200
Target: ~$7,000–7,500
Timeline: Could play out over 3–6 months
Bearish Breakdown Scenario
Trigger: Monthly close below $2,500
Target Zone: $1,850 → $1,300 (last major supports)
Would invalidate the higher low structure
I am bullish but it is hard to not to be cautious given its crypto and this is a pretty tough resistance.
Do your own research and make responsible decisions all.
Peace out.