ETHFI on the weekly timeframe shows a significant bullish breakout after successfully breaking above the long-term descending trendline resistance that had been capping price action for months. This breakout represents a major shift in market structure and suggests the extended downtrend may be ending.
Key Technical Points:
Clean break above descending trendline resistance
Volume appears supportive of the breakout move
Potential Targets:
Initial resistance zone around $4.5 (red shaded area)
Higher targets possible if momentum sustains
Risk Considerations:
Weekly timeframe moves take time to develop
A false breakout could see price return below trendline
Overall crypto market sentiment remains crucial
The breakout setup offers favorable risk-to-reward for longer-term positioning, though traders should monitor for sustained momentum above the trendline to confirm the reversal.
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