Since April 2025, Ethereum has changed its trend of falling in a channel to the different symmetrical triangular trend.
According to veteran analyst Peter Brandt, Ethereum is just about to make a significant breakout.
Between June 9–10, price rose to 2700 dollars as compared to 2400 dollars.
The 18-period moving average presents positive bullish force.
The reading of Weak ADX (22.72) means that the current trend is not strong.
Overcoming the present levels would drive ETH up to $4,000.
A correction below 2,150 can trigger a swing management back down to 1,390.
The price chart of Ethereum (ETH) is looking like a major technical breakout since it is transforming in terms of the inverted channel to symmetrical triangle.
This transition is seen to have first started in the middle of April 2025, after a several-month downturn had started since December 2024.
The Ethereum token fell steadily after it rallied to a high of above $4,000 before it was suitably met by built-in support at just under $1,390 alongside built-in resistance at about $3,700.
Symmetrical Triangle Pattern Explained
Ethereum has been trading in a symmetrical triangle after getting out of its descending channel and this pattern has been famous to signal consolidation before a possible breakout.
Support has been put under test several times, the latest being on June 6 at the level of 2,392.
The gains since May have been curtailed by resistance at $2,700.
This pattern indicates that sellers and buyers are finding a balance and this is usually followed by a decisive action.
Alt Text: ETH Symmetrical Triangle Wave
What Are the Technical Indicators?
The technical set up of Ethereum is giving mixed signs:
- The 18 period moving average has been bullish and has entered into a position of dynamic support which is a sign of a short bullish.
- The Average Directional Index (ADX) is low (22.72) thus is less than the 25 level and is less than the level which shows a strong trend.
- The bulls are favoured by the momentum indicators but the ADX suggests that it could continue consolidating.
The Ethereum According to Peter Brandt
Famous chartist Peter Brandt has made his contribution to discussing Ethereum behavior lately. He remarked:
“Every dog has its day — woof woof ETH.”
The playful bullishness of Brandt implies that the investor is optimistic about Ethereum cutting the performance lag with Bitcoin soon.
The cue he provides makes the existing technical script weigh heavily on the charts.
Upside & Downside Scenario of ETH
Ethereum is currently at a very important technical point and any confirmation is being keenly awaited among the traders:
Bullish Scenario:
A breakout above the resistance level of $2,700 shows the ability to start a rally up to the level of $4,000 which is marked by the psychological mark and the previous high.
Bearish Scenario:
A fall of below the $2,150 support would see the price plunge to take long-term support at $1,390.
The arrangement gives a clear picture of risks/reward to traders and investors of cryptos.
Summary: Will Ethereum Take Anything Over?
Ethereum has already left a bearish channel and changed to symmetrical triangle formation, which indicates that a longstanding move can be expected soon.
Although such technical indicators as ADX point on further indecision within the market, the presence of bullish movement and an increasing moving average confirm a positive trend.
As veteran analyst Peter Brandt has not only verbally supported Ethereum but has also been believed to be confident about the prospects, the market can soon see Ethereum narrowing the gap to Bitcoin — and perhaps topping the next bullish run.
Being a short term trader or long term investor doesn’t matter in this regard.
Ethereum is currently in an interesting technical position that needs to be formulated upon.