Ethereum is trading inside a well-defined falling wedge pattern, which is typically a bullish reversal / continuation structure after a corrective move. Price is currently stabilizing near the lower boundary of the wedge while holding above key support around 2950, suggesting selling pressure is weakening.
Market Structure: Falling Wedge (Bullish)
Trend Context: Corrective move within broader bullish structure
📈 Trade Idea (Conditional):
Buy Entry: Above 2965 (1H candle close / breakout confirmation)
Stop Loss: 2900
Take Profit 1: 3020
Take Profit 2: 3090 – 3100 zone
📌 Technical Rationale:
Falling wedge pattern indicating potential bullish reversal
Price holding near wedge support with reduced selling momentum
Break above wedge resistance may trigger upside continuation
📊 Fundamental Context:
Positive broader crypto sentiment
Growing institutional interest and improving ETH ecosystem activity
BTC strength may act as catalyst
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⚠️ Risk Disclaimer:
This is not financial advice. Please conduct your own research and manage risk accordingly, wait for confirmation
