Technical analysis by MMBTtrader about Symbol ETH: Buy recommendation (17 hour ago)

A decisive breakout above the $3,100 level for Ethereum would represent a significant technical milestone, potentially heralding the beginning of a new bullish phase. Such a move, particularly if validated by sustained volume and a daily close above this key resistance, could initiate a strong upward impulse with an initial technical target near the $5,000 zone, aligning with measured move projections from the recent consolidation structure. It is important to emphasize that a confirmed breakout of the prevailing channel resistance is a prerequisite for this bullish scenario to unfold. Based on current technical structure and momentum indicators, we assess the probability of such a breakout occurring in the near term at approximately 70%, though traders should await clear confirmation before positioning for extended upward movement. DISCLAIMER: ((trade based on your own decision)) <