ETH UPDATE Overall, Ethereum chart looks good.
The price not only broke through the $2600 resistance, but also taking hold above the descending trend line that held $ETH below since December of 2024.
Accumulating a LONG position in the $2650 - $2730 range is a good decision. Targets are on the chart.
But don’t wait too long to enter a position, when Ethereum wants to move, it does it fast!
🧐 Remember the Broadening Wedge on $ETH we shared in April when the price was $1700?
It made X2 and even more since then, but the wedge is still in play and was not broken up.
The key resistance of the Broadening Wedge is located in the $4100 - $4200 zone. By reaching this resistance we may see some consolidation in the $3600 - $4200 zone before breaking it up!
Once the $4200 is broken, Ethereum will go to new ATHs towards $5500 - $6000.
