๐ Ethereumโs Comeback : Reclaiming the Falling Wedge?
#ETH #ETH๐ฅ๐ฅ๐ฅ๐ฅ๐ฅ๐ฅ #FALLINGWEDGES #Write2Earn
๐ Market Structure & Key Levels :
ETH is currently testing a falling wedge pattern, which is historically bullish if confirmed. The price is hovering below key resistance but above strong support, indicating a possible reversal.
๐ Key Levels to Watch :
Support : $3,200 (Critical bounce zone)
Resistance : $3,600 (Breakout confirmation)
Falling Wedge Target : $4,000
๐ Bullish Signals :
1๏ธโฃ Bear Trap Confirmation :
ETH dipped below the wedgeโs support but quickly reclaimed the range. This signals strong buying pressure, shaking out weak hands.
2๏ธโฃ Technical Pattern Validity :
A break above resistance could lead to a bullish rally toward $4,000, as falling wedges tend to resolve upward.
3๏ธโฃ Altcoin Market Influence :
Ethereumโs movement is heavily tied to BTC dominance (BTC.D). If BTC stabilizes, altcoins, including ETH, could see momentum gain.
๐ฅ Conclusion & Pro-Tip :
Bullish Scenario :
If ETH closes above $3,600, expect a run toward $4,000.
Bearish Risk :
Failure to hold $3,200 could result in a drop to lower levels.
Investor Strategy :
Wait for a breakout confirmation above $3,600 before entering a long position.
โ ๏ธ Advice to Investors :
Monitor volume spikesโif ETH sees increased buying pressure, it could validate the bullish wedge breakout. However, a fakeout is possible, so set tight stop losses below key support.