ETH/USD Weekly Chart Analysis

Ethereum (ETH/USD) weekly chart.

As depicted in the attached chart, Ethereum is currently trading within a symmetrical triangle pattern, a formation it's been following since 2021.

The key levels to watch include the pivot line around $2,750, which currently acts as a critical resistance level.

Upside Target:

• If Ethereum breaks above this pivot line, the next significant resistance is near the $3,800 level. This area could offer a potential upside target if bullish momentum resumes.

Downside Target:

• On the downside, if Ethereum fails to hold the $2,750 level, we might see a retest of the lower boundary of the triangle, with support expected in the $1,900-$1,975 range.
• This support zone will be crucial to monitor for any potential reversal or further decline.

Overall, this symmetrical triangle pattern suggests that a breakout is likely in the near term.

We should closely monitor price action around these key levels for any trading opportunities.

To Your Trading Success,

Casey Stubbs