As reported by AiCoin, Ethereum (ETH) has entered a triangle consolidation pattern on the daily chart, with recent price action showing a morning star bullish reversal formation. The asset has been oscillating between $3450 and $2620 over the past three weeks, with key resistance at $3200 and support at $2900. Traders are advised to maintain a bullish stance with a focus on the $2900–$2950 support zone for potential long entries, targeting $3050–$3100 with a stop loss at $2870. The analysis was shared during a live session covering ETH technicals and trading strategies.
ETH Enters Triangle Consolidation Pattern; Breakout Still Looms
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Summary
ETH analysis shows the asset has entered a triangle consolidation pattern on the daily chart, with a morning star formation signaling potential bullish momentum. ETH has traded between $3450 and $2620 over three weeks, with key resistance at $3200 and support at $2900. Traders are advised to watch the $2900–$2950 zone for long entries, targeting $3050–$3100 with a stop loss at $2870. A breakout from the pattern remains a key focus for ETH analysis in the near term.
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