Ethereum has come back Up to your highest time for over three years, a clear contrast with Bitcoin, which exceeded many price levels in the current cycle. Despite the fact that it is the second largest cryptocurrency, Ethereum has He tried to keep up With a wider market even during price rallies. However, novel technical perspectives suggest that Ethereum may soon free itself from this disappointing trend and push in the direction of 4,867 USD based on a powerful meeting of many technical indicators.

Extremely powerful support shows that Ethereum Breakout is close

As the technical analyst revealed on the TradingView platform, Technical analysis The price of Ethereum is a stubborn perspective to finally break your highest level of USD 4,878. Ethereum is Currently set in The key point of inflection, in which it trades slightly above the long -term support trend. In particular, this trend of the line acted as a solid basis during previous slowdowns, enabling consistent reflection of ETH after touching this level. Given this historical precedent, the next expected move is another reflection up, potentially preparing the scene for the renovated stubborn pressure.

The strength of this support trend is further strengthened by the key levels of Fibonacci, which previously served as the inflection points of the main Ethereum rallies. Currently, Ethereum is set about 14.6% of the FIB withdrawal level from the break above USD 4,000 in September 2024, which is a zone that historically caused reversal and powerful rush stubborn.

In addition to Fibonacci level, the Ethereum price structure is currently also supported by the monthly 55 interpretation average (EMA), which is usually known for determining long -term stubborn trends. This increases the reflection on the long -term support trend line.

Creating a triangle confirms an explosive movement

The analyst also noticed that ETH trades within a triangle in a multi -masty time. Triangle patterns often signal the consolidation period before a powerful movement in any direction and in the case of Ethereum, supporting trend lines and Fibonacci levels suggest a higher probability of breakup up.

A specific pattern forming on the Ethereum chart is a growing triangleA stubborn pattern of a continuation characterized by a growing lower trend line and a horizontal resistance zone. The upper resistance line for this formation is located about USD 4,000, which turned out to be challenging to violate three different times in this cycle. However, next attempt It can cause a breakthrough if Ethereum continues to operate growing stubborn signals with FIB and 50 EMA. When Ethereum cleans the upper resistance of the growing triangle, the next main destination price would be around USD 4,867, and its current highest level in history.

At the time of writing, Ethereum trads Fr. 2,260 USD, by 1.1% in the last 24 hours.

Highlified image of Ethereum, chart from tradingview.com