During the European session, Ethereum (ETH) is showing a slightly bullish bias, trading at around $3,984 level with a 24-hour trading volume of $16.5 billion. The world’s second-largest cryptocurrency, boasting a market cap of $480.9 billion, gained 1.04% over the past day.
Despite recent market volatility, ETH’s ability to maintain higher lows suggests growing trader confidence as it inches closer to a potential breakout.
The recent price action signals that buyers are quietly regaining control, as ETH consolidates within a tightening range between $3,920 and $4,115—a zone that typically precedes major directional moves.
Ethereum (ETH/USD) Technical Outlook: $4,300 Target in Focus
On the 4-hourly timeframe, the ETH/USD is shaping up for a possible symmetrical triangle breakout. Typically, a breakout of such a pattern triggers sharp price swings, particularly in the same direction where it is breaking out now.
In this case, ETH is breaking out to the upside. The 20-day EMA ($3,935) has nearly crossed above the 50-day EMA ($3,926), a short-term bullish signal indicating momentum may soon accelerate.
Ethereum Price Chart – Source: TradingviewThe Relative Strength Index (RSI) is near 58, suggesting mild bullish bias without overbought conditions, leaving room for continued upside. Recent candlestick formations, spinning tops, Doji candles, and a bullish engulfing pattern, underscore a tug of war between bulls and bears, with momentum slowly tipping toward buyers.
If Ethereum breaks above $4,115, the next resistance lies at $4,298 and $4,550, supported by historical Fibonacci levels. A rejection at current levels, however, could drag ETH toward $3,712 or $3,510, where demand has previously emerged.
Trade Setup and Market Outlook
For traders, a breakout above $4,115 offers a favorable long opportunity, targeting $4,298–$4,550, with a stop below $3,920. Conversely, a drop under $3,920 could open the door for short-term bearish setups toward $3,510.
Ethereum’s tightening price structure reflects volatility buildup—a condition often followed by sharp expansion moves. Whether it’s a bullish surge or a bearish pullback, this breakout is likely to define ETH’s direction heading into November 2025.
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