ETH: Awaiting breakout

Ether (ETH) remains trapped in an expanding triangle, with the daily stochastic flashing an overbought reading, pointing to stretched upward momentum, which weakens the case for a firm breakout in the short term. A consolidation around the resistance looks likely as prices are firmly above the Ichimoku cloud on the daily chart and short-term SMAs point north, indicating a bullish bias. An eventual breakout would shift focus to $3,400, a level targeted by options traders$ETH