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$ETH MARKET UPDATE 📊
ETH has finally done something it hasn’t managed in weeks — breaking above the long-standing descending trendline that has been rejecting every rally since the April highs near $2,500.
Price is now trading around 1,705 on the 8H timeframe after a strong impulsive move out of the falling wedge structure. The 1,530 region continues to act as a solid base where buyers consistently stepped in and defended the trend.
Key levels to watch.
Bullish scenario: • Hold above 1,680
• Confirm the broken trendline as support
• Potential continuation toward 1,750 → 1,810
Bearish scenario: • Lose 1,650 on a retest
• Drop back into 1,580 zone
• Breakout gets invalidated
Now the real question is simple — is this a true breakout or just another liquidity grab before continuation?