Ethereum’s Long-Term Bullish Outlook: Key ResistancesThis technical analysis follows a progressive wave growth pattern (Wave 1, Wave 2, and Wave 3), where previous wave bottoms evolve into key resistance levels. The long-term target is set at the zone marked by the 💲 emoji, representing a potentially achievable level if the current structure is respected.
1. Wave pattern with sequential resistances:
Wave 1: The first bullish wave established an initial bottom, which, once broken, turned into resistance (R1).
Wave 2: After breaking the Wave 1 bottom, the price advanced into the second wave, whose bottom is now acting as resistance (R2).
Wave 3: Currently developing, with the bottom of Wave 2 serving as key resistance (R3), acting as the gateway to the long-term target.
2. Main resistance and the 💲 target:
Main Resistance: This level is crucial for confirming the continuation of the bullish trend. A breakout with volume could push the price toward the target zone (💲).
💲 Target Zone: Represents the projected growth level if Ethereum maintains its structure and successfully breaks R3. This zone is the long-term target for investors with a broader outlook.
3. Importance of maintaining supports:
The support provided by the Wave 2 bottom is critical to validate this move. If held, Ethereum could continue following the projected pattern.
Moving averages also reinforce the structure, indicating that the bullish bias remains intact as long as no major breakdown occurs.
Conclusion: The long-term target lies within the zone marked by the 💲 emoji. To reach it, Ethereum must progressively break through R1, R2, and especially R3, while respecting current support levels. This scenario presents an opportunity for a sustained bullish rally if these conditions are met. 🚀
