Ethereum price eyes breakout from Ascending Triangle with $3,760 in sight

Ethereum is trading within a textbook ascending triangle pattern, hinting at a possible bullish breakout. With price pressing against key resistance, traders are watching for a decisive move that could ignite further upside momentum.

Ethereum (ETH) has entered a critical phase within an ascending triangle formation, a pattern widely considered bullish due to its structure of rising lows beneath a horizontal resistance. This tightening range suggests a major breakout may be imminent, especially as ETH approaches the apex of the formation. With resistance at $2,800 and momentum building, the next directional move could be significant.

Key technical points

• Pattern Formation: Ethereum is forming an ascending triangle with dynamic higher lows pressing into static resistance.
• Critical Resistance at $2,800: A high-timeframe level capping recent rallies, currently under pressure from buyers.
• Measured Target: The pattern implies a potential move toward $3,760, which aligns with the next key resistance zone above the value area high.

ETHUSDT (4H) Chart, Source: TradingView

Ascending triangles are known for producing strong breakouts when confirmed with rising volume. In Ethereum’s case, the pattern has remained technically clean, with a consistent series of higher lows indicating buyer aggression and structural strength. The $2,800 resistance level stands as the last significant hurdle before ETH can expand into a higher value zone.

A confirmed breakout above this structure suggests a continuation move, with the projected target at $3,760, calculated by adding the height of the triangle to the breakout level. This target also coincides with a historical resistance zone and a high-volume node on the chart.

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Psychological dynamics further support the bullish thesis. As Ethereum grinds toward the apex, sidelined buyers and short sellers face increasing pressure. The longer price compresses beneath resistance while forming higher lows, the greater the likelihood of a volatility-driven breakout as momentum builds and positions unwind. This type of market behavior often results in swift, aggressive moves once resistance is cleared.

Still, volume confirmation is essential. A strong move above $2,800 must be accompanied by a spike in volume to validate the breakout. Without it, there’s an elevated risk of a false breakout and subsequent rejection. Encouragingly, Ethereum has been climbing with consistent volume, suggesting growing conviction among bulls.

What to expect in the coming price action

As long as Ethereum holds within the ascending triangle and continues to form higher lows, the probability of a breakout increases. Traders should watch the $2,800 resistance level closely, a decisive breakout with volume expansion could send ETH surging toward the $3,760 target.

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