$CHESS USDT BULLISH SETUP – LONG ENTRY ON BREAKOUT
$CHESS is consolidating near the upper range after a steady climb, showing strength against selling pressure. A breakout above the immediate resistance could trigger further upside momentum.
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Ethereum’s (ETH) breakout above the $4,000 level—an important
Here’s a visual snapshot highlighting Ethereum’s $ETH breakout above the $4,000 level—an important psychological milestone reached for the first time since December 2024.
Key Highlights from Today's Earlier Trading Reports
Ethereum surged past the $4,000 mark, climbing ~4% within 24 hours and marking its first close above this level since last December.
The rally triggered a wave of short liquidations, totaling around $119 million over the past 24 hours, with $24 million wiped out in just one hour.
This move appears to be fueled by institutional demand, with substantial inflows via spot ETFs and corporate treasury acquisitions. Ethereum has gained momentum as companies accumulate ETH, similar to MicroStrategy’s Bitcoin strategy.
$ETH also broke a long-term symmetrical triangle pattern, a technical structure developing over 45 months, adding further momentum to the breakout.
The move has intensified speculation around a broader “altcoin season”, as Ethereum’s market dominance rises relative to Bitcoin’s.
What It Means
IndicatorInsightPsychological BreakoutSurpassing $4K represents a crucial market threshold—often attracting more buyers and triggering stop-losses from shorts.Institutional AccumulationLarge-scale purchases and ETF inflows are lending credibility to the rally and may sustain it.Technical ConfirmationBreaking out of a 45-month formation is a strong bullish signal that could drive further upside.Shift in Market StructureEthereum gaining ground over Bitcoin suggests capital rotation toward altcoins, which may fuel ongoing momentum across the sector.
What to Watch Next
Support Confirmation: Can $4,000 now act as support, or will $ETH ETH dip back below?
Institutional Activity: Continued ETF inflows or major whale trades could provide additional tailwinds—or higher volatility.
Financial markets showed positive signs early Monday due to reports suggesting the upcoming Trump tariffs, due on April 2, might be more measured than initially expected. $BTC traded at around $86,500, up 2.7% on a 24-hour basis, and Solana's $SOL token traded nearly 6% higher at $138.
Key events to watch in the coming days include Friday's PCE reading, the Fed's preferred inflation gauge, and the Senate Banking Committee's hearing with SEC nominee Paul Atkins and Comptroller of the Currency nominee Jonathan Gould on March 27.