Analysts Predict Breakout as U.S. Tax Exemption Boosts Confidence
The post Analysts Predict Breakout as U.S. Tax Exemption Boosts Confidence appeared on BitcoinEthereumNews.com.
Ethereum price holds $4,509, with buyers testing the $4,560 resistance that has capped rallies since August. U.S. Treasury exempts ETH from 15% corporate tax, boosting confidence in institutional adoption. On-chain flows show $22.4M net outflows, signaling mild accumulation but uneven conviction. Ethereum price today is trading at $4,509, recovering momentum after bouncing from the $4,307 support zone. Buyers are pressing against a descending resistance line near $4,560, which has capped multiple attempts since August. The market focus now shifts to whether ETH can break this ceiling or slip back toward deeper support levels. Ethereum Price Holds Triangle Structure ETH Price Dynamics (Source: TradingView) The daily chart shows Ethereum coiling within a symmetrical triangle pattern. Support is anchored by the rising trendline from April, converging with the 20-day EMA at $4,307. Resistance remains firm near $4,560, the descending line that has repeatedly rejected rallies. Momentum is improving, with the RSI at 57 pointing toward neutral-to-bullish conditions after rebounding from oversold territory. A successful break above $4,560 would clear the path toward $4,700 and potentially $4,850, while failure at this level risks a pullback to $4,238 and $3,906, where the 100-day EMA and trendline support converge. U.S. Treasury Tax Exemption Fuels Optimism Ethereum received a strong fundamental catalyst this week after the U.S. Treasury exempted ETH from the 15% corporate tax. This decision provides a regulatory tailwind, positioning Ethereum more favorably for institutional adoption. Analysts argue the exemption reduces long-term cost barriers for corporations holding ETH on their balance sheets. Market reaction has been cautiously bullish, with sentiment improving across futures markets and staking inflows. Traders see this as a validation step that strengthens Ethereum’s standing against competing layer-1 networks. On-Chain Flows Reflect Mixed Sentiment ETH On-Chain Flows (Source: Coinglass) Exchange data shows $22.4 million in net outflows on October 3, highlighting…
