Ethereum’s Long-Term Bullish Outlook: Key Resistances

This technical analysis follows a progressive wave growth pattern (Wave 1, Wave 2, and Wave 3), where previous wave bottoms evolve into key resistance levels. The long-term target is set at the zone marked by the 💲 emoji, representing a potentially achievable level if the current structure is respected.

1. Wave pattern with sequential resistances:

• Wave 1: The first bullish wave established an initial bottom, which, once broken, turned into resistance (R1).
  
• Wave 2: After breaking the Wave 1 bottom, the price advanced into the second wave, whose bottom is now acting as resistance (R2).
  
• Wave 3: Currently developing, with the bottom of Wave 2 serving as key resistance (R3), acting as the gateway to the long-term target.
  

2. Main resistance and the 💲 target:

• Main Resistance: This level is crucial for confirming the continuation of the bullish trend. A breakout with volume could push the price toward the target zone (💲).
  
• 💲 Target Zone: Represents the projected growth level if Ethereum maintains its structure and successfully breaks R3. This zone is the long-term target for investors with a broader outlook.
  

3. Importance of maintaining supports:

• The support provided by the Wave 2 bottom is critical to validate this move. If held, Ethereum could continue following the projected pattern.
  
• Moving averages also reinforce the structure, indicating that the bullish bias remains intact as long as no major breakdown occurs.
  

Conclusion: The long-term target lies within the zone marked by the 💲 emoji. To reach it, Ethereum must progressively break through R1, R2, and especially R3, while respecting current support levels. This scenario presents an opportunity for a sustained bullish rally if these conditions are met. 🚀