Ethereum recently broke above a long-term descending trendline resistance, confirming a trendline breakout after multiple rejection points and even a fakeout attempt earlier. This breakout signals a potential shift in momentum from bearish to bullish.
The breakout is supported by rising volume, suggesting strong buying interest and the possibility of a sustained rally.
Key Levels:
Resistance Turned Support: 4,200
Immediate Resistance: 4,480
Upside Target: 4,800
Downside Support: 4,100
Bullish Scenario:
As long as ETH holds above the 4,200 breakout level, bullish momentum is likely to continue. A clean move above 4,480 could accelerate price toward the 4,800 target zone.
Bearish Scenario:
If ETH fails to hold above 4,200, we could see a retest of support at 4,100. A breakdown below this level would invalidate the bullish structure and bring sellers back into play.
Bullish Entry: On pullback/retest near 4,200 support → Target 4,480 / 4,800.
Bearish Entry: Only if price rejects 4,480 and closes back below 4,200.
