In today’s technical analysis, let’s take a closer look at Ethereum, which is showing a strong bullish performance today, climbing nearly 4%. This move is not random and does not come out of nowhere. The price action clearly reflects a technical breakout that traders have been watching closely for weeks.
Since the beginning of November, Ethereum had been moving inside a symmetric triangle pattern, marked by narrowing price action and declining volatility. This kind of structure usually signals that the market is building energy for a larger directional move. As the range tightened, pressure accumulated, and today we finally saw a decisive breakout to the upside, which technically activates a buy signal.
The key question now is durability. If buyers manage to hold the price above the upper boundary of the former triangle, the breakout will be confirmed and could open the door for a stronger continuation higher in the coming days. On the other hand, if the price quickly falls back inside the triangle, this move would turn into a false breakout, a scenario that often leads to sharp declines as trapped buyers rush to exit. For now, sentiment is bullish, but follow-through will be crucial.