Ethereum has confirmed a technical breakout from a four-year triangle pattern, successfully maintaining its vital support level between $3,500 and $3,600. Market analysts emphasize this consolidation marks a critical juncture for ETH’s price trajectory.
The breakout gains further validation from the On-Balance Volume (OBV) indicator, which displays a sustained upward trend. This ascending OBV pattern signals consistent asset accumulation by investors, reinforcing bullish sentiment even during recent price pullbacks.
Technical projections indicate that maintaining support above the $3,500-$3,600 range could propel Ethereum toward a long-term price target of $12,300. This forecast aligns with volume trend analysis, highlighting growing market conviction behind the breakout pattern.
Market observers underline that Ethereum’s continued adherence to this support zone remains paramount for sustaining its upward momentum. Any breakdown below $3,500 would endanger the optimistic technical forecast.