ETH/USD 30Min Chart Analysis ๐ง ๐
๐น Pattern: Descending wedge โ a bullish reversal pattern.
๐น EMA Strategy: Price is hovering near the 70 EMA (3,548.11), acting as dynamic support.
๐น Demand Zone: Strong support zone around 3,470โ3,490, previously respected by buyers.
๐น Price Action: Consolidation with lower highs & higher lows signals compression before breakout.
๐น Volume Strategy: Low during consolidation, expected surge on breakout.
๐น Target: Projected breakout to 3,677.91 (+5.2%) if price respects demand and breaks wedge.
โ
Strategy Suggestion:
Buy setup: If price retests demand zone & forms bullish candle โ target 3,677
Confirmation: Breakout above wedge & EMA with strong volume
๐ Bullish bias while price holds above demand zone and 70 EMA
โWatch for false breakout traps near wedge resistance
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