Ethereum has broken out of its long-term descending channel and is currently trading inside a smaller ascending channel, showing strong bullish momentum. After a "fake breakout" below major support around $1,400, ETH quickly reclaimed higher levels, suggesting a bear trap.
Currently, ETH is approaching the critical resistance zone around $2,000. As long as the price stays inside this rising structure and continues making higher lows, the bias remains bullish toward a test of the major resistance.
✅ A clear breakout above $2,000 could trigger a stronger move up.
⚠️ However, if the structure breaks down, we should watch for potential pullbacks.
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Key Levels to Watch:
Support: $1,720–$1,750 zone
Resistance: $2,000–$2,050 zone
