ETH Breakout Looms as Symmetrical Triangle Nears Resolution
The post ETH Breakout Looms as Symmetrical Triangle Nears Resolution appeared on BitcoinEthereumNews.com.
Key Points ETH trades within a narrowing range, with key levels at $4,100 and $4,500. Recent $44.2M ETF inflows suggest improving institutional sentiment. Ethereum leads in daily blockchain fees, signaling strong network activity. Ethereum (ETH) is nearing the apex of a symmetrical triangle pattern, signalling a possible breakout in either direction. The price is currently trading around $4,317, tightening between support at $4,140 and resistance at $4,500. The month-long consolidation suggests growing pressure as the range continues to narrow. If price breaks the upper trendline, a bullish momentum shift may follow. Source : X Analyst Ash Crypto highlights that Ethereum faces a key resistance at $4,500, where a breakout could signal a continuation of the upward trend. Conversely, he cautions that if ETH falls below $4,100, it could expose the market to broader downside risks. ETF Inflows and On-Chain Activity Reinforce Market Strength Ethereum ETFs recorded $44.2 million in net inflows on September 9, following several days of outflows earlier this month. The renewed interest in institutional products signals improved investor sentiment and potential price support. Source : X Previous large redemptions included $446.8 million on September 5 and $96.7 million on September 8. However, the recent reversal in flows shows that confidence may be returning to ETH markets. Additionally, Ethereum led all blockchains in daily fee revenue, generating $1.4 million in the past 24 hours. This suggests increasing network activity and sustained demand across decentralized applications. Top Chains by Fees (Last 24H) | Source : Artemis Ethereum remains ahead of competitors like Tron and Solana in this metric, reinforcing its dominance in on-chain economic activity. Strong fundamentals continue to support long-term bullish outlooks. Price Action Remains Stable Amid Consolidation Phase ETH is currently priced at $4,325.53, showing a 0.72% decline over the last 24 hours. Despite short-term movement, ETH…
