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Crypto writer
Arslan Butt
Crypto writer
Arslan Butt
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During the European session, Ethereum (ETH) is trading near $3,802, showing slight gains as traders weigh whether the next move will be a breakout or a pullback. With a market capitalization of $467.7 billion, ETH remains the second largest cryptocurrency, but its price action has tightened noticeably in a symmetrical triangle pattern that has been forming since mid-October.
This setup reflects growing indecision as volatility compresses between key resistance at $4,255 and support around $3,680-$3,750. Buyers continue to defend the lower boundary, while sellers maintain control near the top.
For now, the market is at a standstill, and traders are watching closely to see if Ethereum’s next decisive move will tip the balance higher or lower.
Ethereum Technical Setup: Momentum Builds
Ethereum price forecast remains neutral as ETH is traded sideways using a symmetrical triangle pattern. Ethereum’s 20-period EMA has flattened, reflecting indecision among traders, while the RSI, which is near 46, is showing the first signs of recovery from oversold conditions.
Recent spinning tops and Doji candles point to near-term uncertainty, but the sequence of higher lows since September suggests that the build-up continues below the surface.
A break above $4,030 could confirm a bullish momentum, potentially driving prices towards $4,255 and, later, $4,536 – the next resistance zone. However, a break below $3,680 could invite fresh selling pressure, exposing downside targets at $3,509 and $3,356, which align with the wider ascending channel visible at higher times.
Ethereum Price Forecast: Bullish Bias Ahead
Market participants see the current formation of Ethereum as a spring coiling-ready for a decisive move in November. Historically, symmetrical triangles that precede a breakout often lead to a 10-15% increase once confirmed.
If ETH sustains the momentum above $4,030 with strong volume, it could pave the way for a rally towards the psychological $5,000 mark, a level last seen in early 2022. Conversely, failure to hold above $3,680 will signal weakness, likely causing short-term consolidation before the next bullish leg.
For active traders, maintaining flexibility is key – waiting for confirmation instead of forecasting. With Ethereum’s volatility tight, the coming crash could shape the tone of the market for the rest of the month.
Trade setup
- Entry: Above $4,030 (background confirmed)
- Stop-Loss: Below $3,680 (trend support)
- Objectives: $4,255, $4,536, and $5,000
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