#Ethereum has printed a rising wedge formation

ETHUSDT

#Ethereum has printed a rising wedge formation on the 1-hour timeframe — a pattern often seen near the end of impulsive moves, hinting at either a breakout continuation or a pullback trigger.


Price has moved from the recent low of $3,481 to a local high near $3,858, hugging the upper trendline of the wedge.

The structure remains intact with consistent higher lows, but current candles show some wicks and slowing momentum at the resistance line.


Immediate Resistance: $3,860 – psychological and structural ceiling

Support Zone: $3,775 and $3,700 (lower wedge edge)

Breakdown Watch: A confirmed close below $3,700 could suggest profit booking or short-term pressure.


If ETH can consolidate above $3,775 and push past $3,860 with volume, bulls may regain command.
However, a failure to hold the wedge support could trigger a retracement toward the $3,650–$3,600 range for structure revalidation.