$ETH – Breakout from Consolidation Zone! 🚀

ETH has just shown a strong price movement on the 15-minute chart, and here's why this could be significant:

$ETH Technical analysis:

Volatility Zone Rejection: ETH was recently trading near the lower red volatility band, showing bearish pressure. However, we now see a strong breakout towards the upside, with the price pushing above the mid-range of the volatility channel. MACD Bullish Divergence: The MACD shows a bullish crossover, signaling increasing buying pressure after a period of consolidation. This momentum suggests that the bulls are gaining strength. Trendline Resistance Broken: A notable descending trendline has been breached, indicating the end of the short-term bearish trend. This is a key bullish signal for traders looking to capitalize on upward momentum.

What to Watch For:

Sustained Momentum: To confirm a trend reversal, ETH needs to maintain this breakout and push towards the next resistance at $2,637. Watch for potential pullbacks to the broken trendline for retest opportunities.

Conclusion:

This could be the beginning of a bullish rally for $ETH if the current momentum continues. Keep an eye on volume and further price action to confirm the trend shift. Bullish traders may want to target higher levels, while bears should watch for any false breakouts.

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