Ethereum Breaks Out as Broadening Wedge Confirms Upward Momentum

Ethereum broke out of a falling wedge, pushing price to $4,627.71 and with a measured target near $4,765.

Support now is at $4,560 and $4,380–$4,400, while resistance levels are seen at $4,700 and $4,765.

Analyst Giannis Andreou notes a 3D Golden Cross, repeating patterns from 2020 and 2023 that preceded major rallies.

Ethereum has confirmed a bullish breakout after consolidating within a falling wedge formation. Prices have trended lower between two converging lines, a pattern often associated with corrective phases

The breakout happened above the $4,560 resistance zone, pushing ETH to $4,627 at press time. Consecutive bullish candles have strengthened the move, indicating renewed buying momentum after weeks of tightening prices.

Breakout Targets and Support Zones

Following the breakout, Ethereum’s chart projects a measured target of approximately $4,765. This represents a 205.70 USDT, or about 4.52%, upside potential from the breakout zone

ETH/USDT 1-hour price chart, Source: Captain Faibik on X

Immediate support now is at the $4,560 breakout area, which holds significance as a retest level for continued strength. Deeper support is between $4,380 and $4,400, aligning with the lower boundary of the previous wedge

As long as price is above the breakout area, bullish continuation is the favored outlook. On the upside, resistance is at $4,700 and the projected target near $4,765, where selling pressure may emerge.

Ethereum’s Golden Cross

According to analyst Giannis Andreou, Ethereum recently formed another three-day Golden Cross. This occurs when the 50-day simple moving average crosses above the 200-day average. He noted that similar setups preceded strong historical rallies.

In 2020, the pattern aligned with a run from under $200 to nearly $4,800. Another cross in 2023 preceded a climb from $1,600 to $4,000. The latest crossover has now appeared with Ethereum holding above $4,500, adding weight to the breakout.

Momentum Factors

The current technical outlook suggests Ethereum is benefiting from multiple drivers beyond chart patterns. The breakout confirms strong momentum on the hourly timeframe, while the Golden Cross reinforces long term trend alignment.

Andreou emphasized that earlier instances of this crossover acted as launchpads for significant gains. He also noted that momentum, ETF inflows, and ETH role in AI and DeFi discussions support the broader case for continuation.

If ETH maintains strength above $4,560, the next area of focus becomes the $4,700–$4,765 range. Should momentum persist, higher psychological levels such as $5,000 are in sight, consistent with past patterns.

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