Hello guys!
Ethereum is showing a strong technical setup on the 4H chart. Price has been respecting an ascending channel since early August, and within this structure, a falling wedge has recently formed.
Right now, ETH is testing the wedge breakout point near the bottom line of the channel. If buyers manage to hold momentum here, we could see price extending toward the channel’s upper boundary, with the next major target sitting around $5,100 – $5,300.
On the downside, failure to sustain above the wedge support may lead to a retest of the lower channel trendline around $4,100 – $4,150, which remains a critical support area for bulls to defend.
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