$ETH
This is a technical analysis chart for Ethereum (ETH/USD) on the 4-hour timeframe from Coinbase, created with TradingView. Here's a breakdown of what the chart suggests:
🔍 Chart Analysis Overview:
Current Price: Around $2,445
Key Levels:
Support Zone: Around $2,186.69
Current Local Support: $2,443.70
Resistance Target Zone: $2,855.30 (upper target)
📈 Technical Patterns & Predictions:
Falling Wedge Breakout:
A falling wedge pattern has formed and broken to the upside, which is generally bullish.
Suggests a potential upward move is in play.
Bullish Flag/Channel Breakout:
Price broke out from a bullish continuation pattern, indicating buyers are gaining momentum.
Target Projection:
The chart projects a price increase from the current level toward $2,855, assuming the breakout holds and volume supports it.
Invalidation/Downside Risk:
If ETH fails to hold $2,443.70, next major support lies near $2,186.69.
🧠 Interpretation:
Bullish Scenario:
Hold above $2,443.70 → possible rally toward $2,855.
Bearish Scenario:
Drop below $2,443 and failure to reclaim quickly could drag ETH to retest $2,186 support.
Would you like a trade idea or risk/reward calculation based on this setup?