📊 ETH Market Analysis

Ethereum (ETH/USDT) has just achieved something it hadn't done in more than two months—breaking above the descending trendline that has capped every rally since the $2,500 highs in April.

Currently trading around $1,705 on the 8-hour chart, ETH has broken out of a falling wedge with strong bullish momentum. The $1,530 support zone held firmly, allowing buyers to regain control and challenge the broader downtrend.

🟢 Bullish Scenario

If ETH maintains support above $1,680 and successfully flips the former trendline into support, the next upside targets could be:

🎯 $1,750
🎯 $1,810

🔴 Bearish Scenario

If the breakout fails and ETH falls back below $1,650, selling pressure could return, exposing:

📉 $1,580

A move below this level would cast doubt on the validity of the recent breakout.

📈 The key question now is whether this breakout has enough strength to continue, or if a retest is needed before the next leg higher.

What's your outlook—are you buying the breakout or waiting for confirmation?

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