HashEther

ETH/USDT weekly chart with those yellow trend lines forming what looks like a long-term ascending triangle / resistance ceiling just under the $4,300–$4,400. --- 1. Big Picture The top yellow line is a multi-year resistance connecting the Nov 2021 and Mar 2022 highs. ETH is right at that line now — this is where historically heavy selling pressure has appeared. If ETH closes a weekly candle above $4,400 with strong volume, that’s a confirmed breakout of a 3-year structure. --- 2. Breakout Scenario If we get a breakout: Measured move from the base of the triangle (~$880 low to $4,400 resistance) = ~$3,520 height. Add that to the breakout zone (~$4,400) → Target $7,900–$8,000 over months (not days). First resistance after breakout: $4,870 (Fibonacci 2.0 extension & historical supply). --- 3. Rejection Scenario If rejection happens here: Possible pullback to $3,760–$3,820 (weekly demand / order block). Deeper correction could target $3,130 if BTC also cools off. --- 4. Smart Money View This is a high-liquidity zone — institutions & whales often engineer fake breakouts here to trap longs. A weekly candle wick above $4,400 but close below could be a bull trap. --- ⚠️ Key takeaway: Above $4,400 weekly close = bullish continuation → long-term $6.5k–$8k targets. Fail to break $4,400 = short-term correction back toward $3.8k or lower. Watch BTC at the same time — ETH almost never breaks multi-year highs alone.