Description:
Ethereum has officially broken out of a long-term descending trendline on the daily timeframe, signaling a potential trend reversal. After holding support near the $1,500–$1,600 zone, ETH has started forming higher lows and is now aiming for key resistance zones. A bullish scenario could see price rally toward $2,800, with a possible extension toward the $3,500–$4,000 zone if momentum continues.
The breakout is supported by strong price structure and rejection from major demand zones, making this a chart worth watching closely. Will the bulls take control and drive ETH back to 2024 highs?
Technical Levels to Watch:
• Support: $1,840 / $1,600
• Resistance: $2,100 / $2,800 / $3,530 / $4,095
Follow for more updates as this setup develops. Let’s see how Ethereum reacts to this breakout!
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