🤑📈 $ETH breaks a rare pattern – does a path toward $6800 begin?
Current price: $4,466.4 (+0.78%)
After 515 days of volatility within an expanding descending wedge pattern, Ethereum has successfully broken the flat resistance at $4100, indicating a long-term structural shift in direction.
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🔍 Pattern Analysis:
- A–E: Volatility within the expanding pattern
- F: Break of the flat resistance
- G (expected): Re-testing the $4000 area as a new support level
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🎯 Measured move targets:
- TP1: $4867 (re-testing the historical peak)
- TP2: $5390
- TP3: $6800 (the complete move from the breakout point)
Risk to reward ratio: 1:7+
Technical and institutional momentum supports the continuation of the trend, provided the re-test is successful.
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⚠️ Critical watch level:
- $4000 – $4100 ← A successful re-test will confirm the validity of the breakout and pave the way for new price discovery
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📢 Follow the channel #CryptoEmad for daily analyses and unmissable opportunities 🔥
#ETH #CryptoEmad #BinanceSquare #BreakoutSetup
Current price: $4,466.4 (+0.78%)
After 515 days of volatility within an expanding descending wedge pattern, Ethereum has successfully broken the flat resistance at $4100, indicating a long-term structural shift in direction.
---
🔍 Pattern Analysis:
- A–E: Volatility within the expanding pattern
- F: Break of the flat resistance
- G (expected): Re-testing the $4000 area as a new support level
---
🎯 Measured move targets:
- TP1: $4867 (re-testing the historical peak)
- TP2: $5390
- TP3: $6800 (the complete move from the breakout point)
Risk to reward ratio: 1:7+
Technical and institutional momentum supports the continuation of the trend, provided the re-test is successful.
---
⚠️ Critical watch level:
- $4000 – $4100 ← A successful re-test will confirm the validity of the breakout and pave the way for new price discovery
---
📢 Follow the channel #CryptoEmad for daily analyses and unmissable opportunities 🔥
#ETH #CryptoEmad #BinanceSquare #BreakoutSetup
