🔍$ETH | Breaking the rising wedge opens the way towards $6,000+ 🚀📈
Ethereum completes one of the purest continuation patterns in this cycle, with a clear breakout of the rising wedge pattern, supported by strong trading momentum and multiple technical confirmations. According to Fibonacci models and Elliott wave, the next targets converge in the range of $6,140 – $6,200, with the potential extension towards $10,000 – $20,000 in the medium term
📊 Key Technical Details
• ✅ Rising wedge breakout = measured move targeting $6,000
• ✅ Elliott wave + Fibonacci extensions (200% logarithmic / 300% linear) = confluence area at $6,140 – $6,200
• ✅ Inverted head and shoulders pattern confirmed on higher time frames
• ✅ Successful retest of the neck line at $2,850 = strong structural support
📌 Support and Risk Levels
• Key support: $4,000
• Structural invalidation: clear break below $2,850 = potential drop towards $1,800
• Continued momentum above $4,000 keeps the bullish scenario active
🧠 Technical Conclusion
As long as the levels of $2,850 and $4,000 hold, the odds favor a continuation towards $6,000 – $6,200.
And if institutional flows and overall momentum continue, we may see extensions towards $11,000 or even $20,000 in the coming months
📢 Follow channel #CryptoEmad for more daily analysis and technical opportunities 🔍