This ETH/USDT daily chart shows a potential breakout setup from a falling wedge pattern, a bullish reversal structure. Ethereum is gaining momentum above key moving averages and preparing for an upward trajectory.
Falling wedge: The price is consolidating within a descending wedge, indicating a potential bullish breakout. Support: Around $2,800-$3,000 (wedge lower boundary). Resistance: Near $3,600 (wedge upper boundary).
Moving averages: The price is climbing above the 100-day MA, which provides additional bullish confirmation. After the breakout, Ethereum could target $4,000 and then $4,800 in the next impulsive wave.
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