Ethereum forms a falling wedge, hinting at a breakout toward the $3100 level.
Rising volume and strong support signal bullish momentum building on the 1-hour chart.
Altcoins may rally next if Ethereum breaks resistance and pushes above the wedge.
Ethereum's ETH has refused to stay quiet. Like a storm gathering power, the charts whisper of movement. The 1-hour timeframe shows a clean falling wedge. Price hugs support with intent. One more push, and the $3100 level might flash before our eyes. Traders feel the pressure building. Momentum flickers like a lit fuse. And while ETH plots its next move, altcoins lurk in the shadows, ready to sprint behind their leader.
https://twitter.com/Thecryptomist/status/1944083022233710599 Wedge Breakout Could Spark the Next Leg Up
Ethereum trades at $2,995.43 after gaining 6.49% this week. That kind of performance turns heads. Volume has surged to $44.75 billion, hinting at rising interest and capital flow. On the 1-hour chart, a falling wedge pattern has formed. These patterns usually don’t end quietly. They compress energy. When they break, the move tends to be swift and explosive. ETH sits near the lower wedge support. Each bounce brings it closer to the breakout point.
If buyers step in and drive it above the upper resistance, the next leg could reach $3100. The structure suggests a technical shift is already underway. But there’s more than chart patterns fueling this optimism. Ethereum continues to benefit from real growth in network usage. Layer 2 scaling solutions have reduced transaction costs. Developers keep building. Users keep showing up. And demand for DeFi and NFTs continues to drive activity across the network.
Eyes on Altcoins as ETH Moves First
The market cap currently stands at $361.54 billion. That figure reflects more than price—it shows strength in community and adoption. Ethereum remains the heart of decentralized finance. While other projects try to compete, none match ETH’s influence or reach. ETH might be the leader, but it rarely moves alone.
When Ethereum rallies, altcoins usually follow. That’s especially true during strong technical setups. If ETH breaks out of this wedge, expect DeFi tokens and low-caps to wake up. Experts now forecast a longer-term target of $8,000 for ETH by 2025. That might sound bold, but fundamentals support the outlook. As adoption grows and real-world assets enter the blockchain space, ETH stands to gain.
For now, though, the short-term focus stays on the 1-hour chart. Support remains intact. Volume favors the bulls. The wedge formation continues to tighten. A push off current support could launch Ethereum toward the $3100 target. The next move could be big. ETH has compressed, like a slingshot pulled tight. If that tension snaps, bulls may finally get the breakout they’ve been waiting for.
