Ethereum (ETH) has finally broken out of the descending channel that has been in place for several months, signaling a potential trend reversal. The daily chart shows ETH decisively closing above the upper boundary of the falling channel, indicating renewed bullish momentum.
📊 What the Chart Tells Us:
ETH had been trapped within a well-defined descending channel since late 2024.
The breakout occurred with increasing volume, further validating the move.
A daily candle has closed above the resistance line, confirming the breakout.
This move comes as Ethereum has been steadily gaining strength amid broader optimism in the crypto markets. Traders and investors are now watching closely to see if ETH can hold above the channel and establish a higher low — a key confirmation for a bullish reversal.
What’s Next?
If ETH maintains this breakout, the next resistance levels to watch lie around $2,100 and $2,400. On the downside, $1,800 now acts as a critical support. $ETH