🔍 Market Structure Breakdown**
Ethereum has navigated distinct phases in recent months, setting the stage for a potential trend reversal:
1. **Sideways Consolidation (Nov 2024 – Jan 2025)**
- ETH traded in a broad range, balancing between buyers and sellers.
- A period of accumulation before the next major move.
2. **Downtrend Phase (Feb – Early April 2025)**
- Breakdown from the range led to a sharp decline.
- Lower highs & lower lows formed a descending channel.
3. **Base Formation (Mid-April 2025 – Present)**
- ETH broke out of the downtrend channel, signaling weakening bearish momentum.
- Consolidation near key support suggests potential accumulation.
📈 Current Setup: Breakout in Play**
- **Key Resistance Break:** ETH is challenging **$1,800**, a former support-turned-resistance.
- **Confirmation Needed:** A daily close above this level solidifies bullish momentum.
- **Moving Averages:** Price reclaiming the **50 & 200-day MA** would strengthen the uptrend case.
🎯 Key Levels to Watch**
- **Immediate Support:** **$1,650–$1,700** (Breakout retest zone)
- **Resistance Targets:**
- **$2,050** (First major hurdle)
- **$2,450** (Mid-term resistance)
- **$2,750+** (Breakout continuation zone)
⚡ Trading Strategy**
- **Entry:** On retest of **$1,650–$1,700** (if breakout holds)
- **Stop Loss:** Below **$1,600** (invalidates the breakout)
- **Take Profit:** **$2,050 → $2,450 → $2,750+**
- **Bias:** **Bullish above $1,800**, bearish if rejected.
💡 Final Thoughts**
Ethereum is showing early signs of a trend reversal, but confirmation is key. A strong close above **$1,800** opens the door for a sustained uptrend. Keep an eye on volume and follow-through!
👇 What’s your take? Bullish or expecting a fakeout? Drop your thoughts below!**
*Like & Share if you found this helpful!* 🚀