#ETH
đš ETHEREUM AT A CROSSROADS: $2,497 TRIANGLE SQUEEZE
ETHUSDT SPOT 4H · Bybit: $2,497.65
$ETH is coiling.
Whatâs happening:
After that massive vertical move from $1,800 to $2,550, Ethereum has been consolidating in a symmetrical triangle.
Price is now $2,497.65, sitting right under the $2.5K resistance and right on the upper trendline.
The Setup:
Upper Resistance: âŒ$2,550 descending trendline
Rising Support: âŒ$2,400 ascending trendline
Current: $2,497 - 4H candles getting tighter
This is a classic compression after a big move. Volatility is about to expand.
2 Scenarios Iâm watching:
Breakout > $2,550: A clean 4H close above with volume and the next leg starts. Targets: $2,600 â $2,650 â $2,700
Lose Rising Support < $2,400: If we break down, Iâd stay patient. A retest of $2,300 â $2,200 is likely before buyers step in again.
Triangles break in the direction of the prior trend 60% of the time. And the prior trend here was up 700+ points in a week.
đš ETHEREUM AT A CROSSROADS: $2,497 TRIANGLE SQUEEZE
ETHUSDT SPOT 4H · Bybit: $2,497.65
$ETH is coiling.
Whatâs happening:
After that massive vertical move from $1,800 to $2,550, Ethereum has been consolidating in a symmetrical triangle.
Price is now $2,497.65, sitting right under the $2.5K resistance and right on the upper trendline.
The Setup:
Upper Resistance: âŒ$2,550 descending trendline
Rising Support: âŒ$2,400 ascending trendline
Current: $2,497 - 4H candles getting tighter
This is a classic compression after a big move. Volatility is about to expand.
2 Scenarios Iâm watching:
Breakout > $2,550: A clean 4H close above with volume and the next leg starts. Targets: $2,600 â $2,650 â $2,700
Lose Rising Support < $2,400: If we break down, Iâd stay patient. A retest of $2,300 â $2,200 is likely before buyers step in again.
Triangles break in the direction of the prior trend 60% of the time. And the prior trend here was up 700+ points in a week.
