Ethereum Holds Key Support as Four-Year Triangle Breakout Suggests Potential Upside Toward $12,300
Main Idea
Ethereum has broken out of a four-year triangle pattern, maintaining key support at $3,500–$3,600, with technical indicators suggesting a potential bullish move toward $12,300.
Key Points
1. Ethereum's breakout from a four-year triangle pattern is confirmed by holding the $3,500–$3,600 support level.
2. The On-Balance Volume (OBV) indicator shows an upward trend, indicating sustained accumulation and supporting the bullish outlook.
3. Technical analysis projects a long-term price target of $12,300 if Ethereum maintains support above $3,500–$3,600.
4. Volume and OBV trends reinforce Ethereum's uptrend, with consistent accumulation even during price pullbacks.
5. Analysts emphasize the importance of the $3,500–$3,600 support zone for Ethereum's continued upward trajectory.
Description
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