Hi
This is a technical analysis chart of Ethereum (ETH/USDT) on a 1-month timeframe. Here’s a breakdown of what’s happening in the chart:
1. Triangle Pattern (Yellow Lines)
The price is forming a symmetrical triangle, with resistance around $4,000 and support near $1,500-$2,000.
A breakout above the upper trendline could signal a bullish move.
A breakdown below support may indicate further downside.
2. Divergences & Indicators
RSI (Relative Strength Index): Shows a potential bullish divergence (price making higher lows while RSI makes lower lows).
MACD (Moving Average Convergence Divergence): Indicates weakening bearish momentum, possibly setting up for a bullish reversal.
3. Possible Scenarios (Yellow Arrow & Question Marks)
The yellow arrow suggests a possible breakout toward the $4,000 level.
The question marks indicate uncertainty—whether ETH will break upwards or get rejected at resistance.
Conclusion
ETH is at a critical decision point.
If it breaks above the triangle resistance, it could rally toward new highs.
If it fails and gets rejected, it may test lower support levels.
This is a technical analysis chart of Ethereum (ETH/USDT) on a 1-month timeframe. Here’s a breakdown of what’s happening in the chart:
1. Triangle Pattern (Yellow Lines)
The price is forming a symmetrical triangle, with resistance around $4,000 and support near $1,500-$2,000.
A breakout above the upper trendline could signal a bullish move.
A breakdown below support may indicate further downside.
2. Divergences & Indicators
RSI (Relative Strength Index): Shows a potential bullish divergence (price making higher lows while RSI makes lower lows).
MACD (Moving Average Convergence Divergence): Indicates weakening bearish momentum, possibly setting up for a bullish reversal.
3. Possible Scenarios (Yellow Arrow & Question Marks)
The yellow arrow suggests a possible breakout toward the $4,000 level.
The question marks indicate uncertainty—whether ETH will break upwards or get rejected at resistance.
Conclusion
ETH is at a critical decision point.
If it breaks above the triangle resistance, it could rally toward new highs.
If it fails and gets rejected, it may test lower support levels.
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.
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.