Ethereum Nears Potential Breakout From Three-Year Triangle With Targets Between $10K and $20K
Main Idea
Ethereum is showing strong bullish signals, including a MACD crossover and high RSI, suggesting a potential breakout from a 3-year ascending triangle pattern with price targets ranging from $10,000 to $20,000 by 2026.
Key Points
1. Ethereum's monthly MACD crossover and RSI at 82.87 indicate strong bullish momentum, similar to trends seen before major rallies.
2. The price is currently near the $4,200 resistance level, with the upper Bollinger Band at $4,169.07 acting as a psychological barrier.
3. A breakout above the $4,800 resistance could trigger a parabolic rally targeting $10,000–$20,000 by 2026, while failure to break may lead to retracements to support zones at $3,400, $3,000, or $2,000.
4. The ascending triangle pattern, with a base near $1,000 and resistance around $4,800, suggests a pivotal breakout opportunity if the resistance is breached.
5. Historical comparisons show Ethereum surged from $250 to $4,800 between 2020 and 2021, with similar potential projected for the current setup.
Description
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