ETH 4H Falling Wedge Breakout:Ethereum has successfully broken out of a clear falling wedge pattern on the 4-hour timeframe, signaling a potential trend reversal from bearish to bullish. ✅
🔸 Support at $2,400 – $2,380:
After the breakout, ETH is holding above the wedge and this support area. This zone will be crucial for confirming the breakout's strength.
🔸 Upside Target: $2,800
If momentum continues, ETH could rally toward $2,600 first, followed by a move to the $2,800 level as shown by the projection in the chart.
🔸 Risk Level at $2,300:
If ETH dips below $2,300 and re-enters the wedge, it could invalidate the breakout setup and lead to downside pressure.
🔸 Outlook:
Watch for a retest of the breakout trendline (around $2,420) with bullish confirmation (like a strong wick or engulfing candle) to consider long positions. Target higher levels gradually while managing risk.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.