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Ethereum Approaches $4,200 Resistance as 3-Year Volatility Squeeze Nears Final Breakout.
Ethereum’s monthly chart shows a powerful setup, pointing toward a potential large-scale breakout. A bullish candle formation, a fresh MACD crossover, and a long-term volatility squeeze are aligning. At the time of writing, ETH was trading at $3,883, approaching the $4,200 resistance level.
Monthly Chart Structure and MACD Support Uptrend
Ethereum’s monthly chart shows price rising within an ascending triangle, with resistance near $4,800 and support levels moving upward. The recent candle closed at $3,775.32, gaining over 51%, forming a strong bullish structure.
According to analysis prepared by Melijn The Trader, Ethereum is setting up for a “monster move” as it nears a key resistance breakout. The MACD indicator has confirmed a fresh bullish crossover, similar to the one seen before the 2021 rally.
This crossover reflects growing momentum and supports the view that Ethereum may follow a similar upward path. According to Galaxy BTC, breaking out of a multi-year symmetrical triangle means the move may be just beginning.$ETH $BTC
Ethereum Approaches $4,200 Resistance as 3-Year Volatility Squeeze Nears Final Breakout.
Ethereum’s monthly chart shows a powerful setup, pointing toward a potential large-scale breakout. A bullish candle formation, a fresh MACD crossover, and a long-term volatility squeeze are aligning. At the time of writing, ETH was trading at $3,883, approaching the $4,200 resistance level.
Monthly Chart Structure and MACD Support Uptrend
Ethereum’s monthly chart shows price rising within an ascending triangle, with resistance near $4,800 and support levels moving upward. The recent candle closed at $3,775.32, gaining over 51%, forming a strong bullish structure.
According to analysis prepared by Melijn The Trader, Ethereum is setting up for a “monster move” as it nears a key resistance breakout. The MACD indicator has confirmed a fresh bullish crossover, similar to the one seen before the 2021 rally.
This crossover reflects growing momentum and supports the view that Ethereum may follow a similar upward path. According to Galaxy BTC, breaking out of a multi-year symmetrical triangle means the move may be just beginning.$ETH $BTC
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