Ethereum started trading this week in a critical situation, with the price fluctuating around $3,160, a slight increase of 0.16% over the last 24 hours. As the second place in the digital currency ranking and boasting a market value equivalent to $381.6 billion, the price movements of the Ethereum currency (Ethereum) are currently confined within one of its most important technical structures formed between 2024 and 2025, which is a symmetrical triangle that has expanded from the August highs and is nearing completion.
What makes this moment crucial is that it witnesses the convergence of two major paths. While the long-term ascending trendline extending from the April breakout represents structural support for the upward trajectory, the strong descending trendline continues to hamper attempts to resume upside over the past 3 months, with Ethereum price currently stabilizing near the convergence point, a point where the market rarely remains balanced for an extended period of time.
On the other hand, recent trading candles reflect this ambiguity, as extended tails to the downside indicate buyers are defending the demand zone at $3,060, while smaller candles indicate hesitation approaching the downtrend line, while the 20-day exponential moving average line (EMA-20) has taken a downward trajectory, creating a moving resistance barrier for sellers to exploit.
Momentum Weakens as Ethereum Price Approaches Breakout Zone
Ethereum continues to lose momentum, as evidenced by the stability of the Relative Strength Index (RSI) at the level of 34, i.e. significantly below the average range without yet forming a positive gap, meaning that price and momentum are on a downward trajectory with no variation, indicating that sellers continue to take the lead.
However, Ethereum’s RSI reading has historically seen recovery from similar levels provided it receives a strong response when it touches trendline support.
Important technical levels for the foreseeable future include:
- Support: At $3,060, followed by $2,632 and $2,192
- Resistance: At $3,485, $3,653 and $4,242, respectively
- Meaning of penetration: A daily close above $3,653 will confirm a breakout of the downtrend.
The price approaching the meeting point of the two sides of the triangle indicates the imminence of a decisive launch. If buyers manage to hold the $3,060 level and a bullish engulfing candle forms, we will see that the nearest targets for the launch are a test of the upper border of the triangle around $3,485, followed by the critical breakout barrier of $3,653, which will officially lead to a change in the structure of the downward trajectory.
A breakout of this barrier will allow Ethereum price to regain its position above the EMA-20 barrier and retest the upper trendline, potentially accelerating the run towards $4,242, which is a major resistance zone.
Ethereum Price Forecast: An expected start that may surprise
Ethereum’s price expectations currently appear balanced as long as its movements remain within the framework of a symmetrical triangle, taking into account that a decisive break of the $3,060 support level and stability below would represent a breakout of the long-term ascending trendline, which could expose Ethereum to a deeper correction wave that pushes it up to $2,632 and perhaps $2,192, where pools of following liquidity positions are installed on the daily chart.
If the price of the Ethereum currency regains its position above the $3,653 barrier, this scenario will reverse, as its breakout will represent a sign of a structural change in the trajectory. This will also reflect a significant psychological shift that will restore buyer confidence, and the continued rise will confirm the breakdown of the triangle pattern and perhaps pave the way for the start of a new ascending wave.
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