Ethereum Holds Within Multi-Year Triangle As $3,500 Breakout Level Approaches

Ethereum is currently priced at $2,955.01 and trading inside a symmetrical triangle since early 2021.

A breakout will only be confirmed by a monthly close above $3,500.

Resistance stands at $2,978.82, with support close by at $2,908.75.

Ethereum continues to trade within a symmetrical triangle that began forming in early 2021. The current price stands at $2,955.01, reflecting no daily movement. The range remains well-defined with resistance at $2,978.82 and support positioned at $2,908.75.

The pattern’s lower and upper bounds have contained Ethereum’s price for over three years. Despite several attempts to escape this range, no sustained breakout has occurred. A strong monthly close above $3,500 is required to confirm any breakout from this structure.

This technical formation compresses price movement while preparing for a significant directional shift. As price nears the apex of the triangle, volatility is likely to increase.

Ethereum Eyes $3,500 Breakout With $12K Target on the Horizon

While Ethereum nears the triangle's upper boundary, confirmation remains dependent on a clean monthly close above $3,500. Previous attempts have faced rejection near this region, maintaining the structure's integrity.

However, with ETH now within reach of this key level, traders continue to monitor whether the price will push beyond resistance. The long-term pattern offers a potential upside projection of $12,000 if a confirmed breakout takes place.

Until then, the price must first maintain its position above current support and gather momentum toward the breakout level.

Resistance and Support Levels Define the Current Setup

ETH remains constrained within a narrow 24-hour range between $2,908.75 and $2,978.82. No significant short-term breakout has been observed. This further emphasizes the importance of the monthly time frame.

Despite intra-day fluctuations, Ethereum’s position within the triangle remains intact. The ascending support and descending resistance lines continue to direct the long-term movement. All eyes remain fixed on whether ETH can sustain higher closes moving forward.

Each successive monthly candle near this region becomes increasingly significant in establishing trend continuation or reversal.