$ETH is coiling inside an ascending triangle — classic consolidation pattern with higher lows meeting flat resistance. Price is compressing, volume typically thins out during this phase, and the setup points to a breakout attempt toward $2,800.
The structure is clean: support keeps stepping up while sellers defend the same horizontal level. When that resistance finally cracks with volume, the measured move from the triangle's height projects the $2,800 target.
Watch for a decisive close above resistance with expanding volume — that's your confirmation. If it fails and breaks below the rising support, the setup invalidates and you're back to range-bound chop.
Triangle plays work when the broader trend aligns. If $ETH has been in a higher timeframe uptrend, this could be continuation. If it's been sideways or weak, treat it as a lower-probability setup. Context matters more than the pattern itself.
The structure is clean: support keeps stepping up while sellers defend the same horizontal level. When that resistance finally cracks with volume, the measured move from the triangle's height projects the $2,800 target.
Watch for a decisive close above resistance with expanding volume — that's your confirmation. If it fails and breaks below the rising support, the setup invalidates and you're back to range-bound chop.
Triangle plays work when the broader trend aligns. If $ETH has been in a higher timeframe uptrend, this could be continuation. If it's been sideways or weak, treat it as a lower-probability setup. Context matters more than the pattern itself.
