Ethereum (ETHUSD) is currently trading within a well-defined ascending channel on the weekly timeframe, indicating sustained bullish momentum. This structure suggests higher lows and higher highs, consistent with a long-term uptrend.
Based on this formation, I’ve identified four key target zones as ETH continues to respect the channel boundaries:
Target 3345.18: Initial resistance area, likely a short-term reaction zone
Target 4014.90: Mid-channel resistance — potential consolidation point
Target 5952.31: Upper bound of the channel — critical breakout test
Target 7331.62: Extension level — price discovery zone if breakout is confirmed
Traders should monitor price action closely near each level. A strong breakout above the channel top could signal continuation toward uncharted highs, while a breakdown may invalidate the pattern.
Disclaimer: This is not financial advice. Please do your own research and manage risk accordingly.
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