$ETH/USDT – Falling Wedge Breakout in Play!

Ethereum has officially broken out of a falling wedge pattern. After nearly three months of descending consolidation, the price has finally broken above the wedge, reaching a key resistance zone.

Key Observations:

ETH broke out near the $1,600 level.

Currently trading around $1,748 (-2.65% daily change).

Price is testing the first resistance zone between $1,800 and $1,820.

Support now lies around the breakout area near $1,660.

Technical Outlook:

The breakout is valid, but a short-term pullback remains possible.

A daily close above $1,800 could open the door to the next major resistance near $2,200.

If $1,660 fails to hold as support, we may see a deeper correction.

Conclusion: Ethereum is showing early signs of a potential trend reversal. If Bitcoin remains stable, ETH could maintain its upward momentum. Keep a close eye on the $1,800 zone for confirmation of further upside.

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