ETH Gearing Up for a Breakout? | Weekly Analysis
Timeframe: 1D (Daily Chart)
Current Price: ~$3,120
Sentiment: Moderately Bullish
---
Chart Overview:
ETH is forming an Inverse Head & Shoulders pattern — a classic bullish reversal setup.
Support Zone: $3,000 – $3,050
Resistance Zone: $3,250 – $3,300
RSI (1D): Hovering near 50, suggesting possible momentum build-up.
MACD: Slight bullish crossover seen.
---
Key Levels to Watch:
Breakout Point: $3,250
Upside Target after Breakout: $3,500 – $3,650
Invalidation Level (SL idea): Below $2,950
---
Fundamental Catalyst:
> Spot Ethereum ETF approval rumors continue to circulate. If confirmed, ETH could see massive inflows — similar to BTC's ETF reaction earlier this year.
---
Trading Plan (Not Financial Advice):
Entry Idea: Between $3,050 – $3,100
Target: $3,500+
SL: Below $2,950 (to manage risk)
---
Your Thoughts?
Do you think ETH will break $3,250 this week? Or is it another fakeout? Let me know in the comments!
#ETH #Ethereum #CryptoAnalysis #BinanceFeed
