Hello Traders 🐺
In this quick update, I want to share my view on Ethereum (ETH) and walk you through the current short-term structure and price target.
📊 Technical Insight:
As shown on the chart, ETH is now trading just below a critical confluence zone of resistance between $2650 and $2850.
Here’s what makes this area significant:
🔴 A downward-sloping red trendline acting as dynamic resistance.
🟣 A weekly horizontal resistance sitting firmly at $2850.
This double-layered resistance zone is the main obstacle in ETH’s path right now.
But here’s the good news — if ETH manages to break above the red trendline, there’s a high probability that it could push through the weekly resistance as well. In that case, the next target would likely be the triangle resistance near the $3700 level — the previous swing high.
This could be a major technical breakout in the making.
📌 Key Levels:
Resistance: $2650 – $2850
Breakout Target: $3700
Let me know your thoughts in the comments 👇
And as always — stay sharp, stay patient, and stick to the plan.
🐺 Discipline is rarely enjoyable, but almost always profitable. 🐺