- ETH trades above a 20-month ascending triangle, signaling strong bullish structure support.
- Resistance zones at $2,150, $3,100, and $4,000 could trigger upward momentum if broken.
- On-chain wallet growth mirrors past bull cycles, hinting at long-term accumulation and strength.
Ethereum (ETH) continues to trade above the lower boundary of an ascending triangle pattern on the weekly timeframe. This structure has held since mid-2022 and is viewed by traders as a bullish sign. If the support remains intact, ETH may target the next resistance levels at $2,150, $3,100, and $4,000.
Ethereum Price Structure Remains Intact Amid Market Volatility
According to analysis prepared by @VIPRoseTr, ETH has consistently respected the ascending triangle’s lower boundary for over 20 months. This pattern reflects a series of higher lows, while the horizontal resistance remains stable, forming a technical setup that often results in upward price movement.
As of the latest data, Ethereum is trading near $1,840 and is holding above this structure despite market fluctuations. Analysts suggest that the pattern’s reliability has gained investor attention as the price has not breached the lower boundary since it first formed in mid-2022.
Technical indicators currently show neutral market sentiment. The Relative Strength Index (RSI) is neither in the overbought nor oversold territory, while narrowing Bollinger Bands indicate that a larger move may be coming. ETH has tested the pattern’s support multiple times but remains in position.
Resistance Levels and Long-Term Metrics Support Bullish Continuation
Ethereum is now approaching resistance levels near $2,150, $3,100, and $4,000. These zones have previously triggered reversals, and a breakout above $1,900 could set up attempts to reach those targets.
Analysts believe that movement past these levels may open the path for larger price swings. According to an observation by analyst Cas Abbe on X, ETH’s monthly RSI has once again touched a long-term support level. “If history repeats, ETH could breach $8,000 by Q4 2025,” he stated.
Ethereum also shows on-chain strength as the 30-day average of new wallet addresses has exceeded its annual average. This pattern was seen before the 2017 and 2020 bull cycles, suggesting possible continued growth ahead.
