Breakout Pushes ETH Toward $3,500
The post Breakout Pushes ETH Toward $3,500 appeared on BitcoinEthereumNews.com. The Ethereum price today is holding above $3,430 after a steep rally that followed a breakout from a multi-month cup and handle pattern. Price surged past $3,100 earlier this week and is now approaching a key zone near $3,500. Traders are watching closely to see if this upside continuation holds or if a temporary pause sets in at resistance. What’s Happening With Ethereum’s Price? ETHUSD price dynamics (Source: TradingView) The daily chart shows a clear breakout above the handle structure of the large cup and handle pattern, with Ethereum price climbing from the $3,100 neckline into open air. This pattern confirms a structural bullish reversal with projected targets between $3,700 and $4,100 based on measured move theory. The weekly chart also reveals a clean breach of the 0.618 Fibonacci retracement at $3,177, with ETH now moving toward the 0.786 Fib level at $3,525. ETHUSD price dynamics (Source: TradingView) From a volume and structure perspective, price has invalidated the previous CHoCH (change of character) and reclaimed major liquidity zones. The Smart Money Concepts chart shows a clean BOS (break of structure) above the prior weekly high, aligning with the start of an aggressive markup phase. As long as ETH sustains above $3,100, the bullish structure remains intact. Why Is The Ethereum Price Going Up Today? ETH Derivative Analysis (Source: Coinglass) The main catalyst behind why Ethereum price going up today lies in the combination of technical breakout confirmation and rising speculative demand. Derivatives data from Coinglass shows a 25.30% surge in ETH futures volume to $156.6 billion over the past 24 hours, with open interest up 6.61% to $49.63 billion. This signals fresh long positioning and high conviction buying interest. Long/short ratios are skewed bullish across exchanges. Binance accounts show a 1.0973 long ratio, while top trader positions on Binance are…
The post Breakout Pushes ETH Toward $3,500 appeared on BitcoinEthereumNews.com.
The Ethereum price today is holding above $3,430 after a steep rally that followed a breakout from a multi-month cup and handle pattern. Price surged past $3,100 earlier this week and is now approaching a key zone near $3,500. Traders are watching closely to see if this upside continuation holds or if a temporary pause sets in at resistance. What’s Happening With Ethereum’s Price? ETHUSD price dynamics (Source: TradingView) The daily chart shows a clear breakout above the handle structure of the large cup and handle pattern, with Ethereum price climbing from the $3,100 neckline into open air. This pattern confirms a structural bullish reversal with projected targets between $3,700 and $4,100 based on measured move theory. The weekly chart also reveals a clean breach of the 0.618 Fibonacci retracement at $3,177, with ETH now moving toward the 0.786 Fib level at $3,525. ETHUSD price dynamics (Source: TradingView) From a volume and structure perspective, price has invalidated the previous CHoCH (change of character) and reclaimed major liquidity zones. The Smart Money Concepts chart shows a clean BOS (break of structure) above the prior weekly high, aligning with the start of an aggressive markup phase. As long as ETH sustains above $3,100, the bullish structure remains intact. Why Is The Ethereum Price Going Up Today? ETH Derivative Analysis (Source: Coinglass) The main catalyst behind why Ethereum price going up today lies in the combination of technical breakout confirmation and rising speculative demand. Derivatives data from Coinglass shows a 25.30% surge in ETH futures volume to $156.6 billion over the past 24 hours, with open interest up 6.61% to $49.63 billion. This signals fresh long positioning and high conviction buying interest. Long/short ratios are skewed bullish across exchanges. Binance accounts show a 1.0973 long ratio, while top trader positions on Binance are…
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