ETHFI breaks above $1.30 support after ascending triangle breakout on the daily timeframe.
Volume surges above 550M in mid-August, indicating strong market participation.
Bollinger Bands show volatility expansion with price trending above the midline.
ETHFI is holding steady above $1.30 after breaking out of its ascending triangle. Technical signals and rising market activity hint at further upside potential in the coming sessions.
Breakout Holds as Bulls Defend $1.30
According to data from Alpha Crypto Signal, ETHFI confirmed a bullish breakout from an ascending triangle on the daily chart, retesting and holding the $1.30 support. The move follows months of narrowing price action, with the pattern forming from early May to August.
https://twitter.com/alphacryptosign/status/1955861533931790461
Point A’s breakout in May saw price surge to $2.10 before reversing to the $0.95 low at point C. Since then, ETHFI has formed higher lows, with multiple rejections at descending resistance. The current price $1.323 sits bullishly above both the 9-day EMA ($1.227) and 50-day SMA ($1.116).
Rising Volume Supports Momentum
Market volume has shown strong recovery since early August. From lows near 400M at the start of the month, volume climbed above 550M by mid-August, matching July’s highs. The most recent spike pushed activity close to 560M before a minor pullback, showing continued trader interest.
Source CoinMarketCap
The 24-hour trading volume stands at $255.7M, up 2.8% day range and 18.87% over the week. This rise in market involvement reinforces bullish sentiment.
Indicators Show Bullish Structure
On the 4-hour chart from Binance, Bollinger Bands have widened, signaling increased volatility. ETHFI trades above the mid-band at $1.251, with the upper band at $1.38 acting as immediate resistance. The Stochastic RSI shows a recent bullish crossover, with %K above %D in the mid-range, suggesting room for upward movement.
Source TradingView
Higher highs and higher lows since early August confirm a bullish short-term trend. If $1.30 holds as support, the next targets lie at $1.50 and $1.60, as per Alpha Crypto Signal’s projection.
With strong technical backing, ETHFI’s breakout stands on solid ground — and bulls appear ready for the next push.
