Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert & block trade
Convert crypto with one click and zero fees
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Ethereum Nears Breakout: Will ETH Hit $4,000 in February?

Ethereum Nears Breakout: Will ETH Hit $4,000 in February?

CryptoNewsNetCryptoNewsNet2025/01/31 21:55
By:cryptonewsland.com
  • As Ethereum remains within a falling wedge pattern, it indicates potential for a bullish breakout.
  • The current market sentiment displays conflicting signals through technical indicators but volume data acts as a decisive factor.
  • ETH has the potential to reach $4,000 in case it breaks through resistance levels although failure at this point may maintain the current consolidation pattern.

Ethereum (ETH) remains within a major falling wedge pattern, a technical structure often associated with potential bullish breakouts. The current price movement suggests that ETH is nearing a decisive moment, with analysts closely watching for a possible upward breakout that could push prices toward the $4,000 level.

Ethereum’s Current Market Structure

The Ethereum price has shown a continuous decrease starting from late 2024 which created a falling wedge pattern through its lower highs and lower lows. The price movement narrows as two trendlines steadily converge to form an apex structure. When this price structure appears historically it indicates an upcoming bullish market trend that depends on sufficient market momentum.

At the time of writing, ETH is trading at $3,350.24 above its resistance level showing signs of bullish momentum.ETH support is around the $3,213.26 level.

Key Indicators and Market Sentiment

Technical indicators suggest mixed signals, with Ethereum maintaining a volatile price range. Volume levels remain a crucial factor in determining the likelihood of a breakout. A surge in buying pressure could confirm the wedge pattern’s breakout, while continued consolidation within the pattern might delay any significant price movements.

$ETH is still trading inside this major falling wedge.

A breakout should see it push all the way to $4,000 again.

February should be fun. pic.twitter.com/h6bYzgapLF

— Jelle (@CryptoJelleNL) January 31, 2025

Recent ETF approvals and institutional involvement in the crypto space have provided a boost to market confidence, which may contribute to the expected breakout.If Ethereum successfully breaks out of the wedge formation, analysts project a potential move toward the $4,000 level, a significant psychological and technical resistance point. However, failure to break above resistance could see ETH continue its consolidation phase or retest lower support levels.

As February approaches, market participants will closely monitor Ethereum’s price action to determine whether the falling wedge resolves in a bullish breakout. With technical patterns aligning with potential upward movement, Ethereum’s next moves could set the tone for its short-term market direction.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

New spot margin trading pair — HOLO/USDT!

Bitget Announcement2025/09/12 07:46

FUN drops by 32.34% within 24 hours as it faces a steep short-term downturn

- FUN plunged 32.34% in 24 hours to $0.008938, marking a 541.8% monthly loss amid prolonged bearish trends. - Technical breakdowns, elevated selling pressure, and forced liquidations highlight deteriorating market sentiment and risk-off behavior. - Analysts identify key support below $0.0080 as critical, with bearish momentum confirmed by RSI (<30) and MACD indicators. - A trend-following backtest strategy proposes short positions based on technical signals to capitalize on extended downward trajectories.

Bitget-RWA2025/09/12 06:14
FUN drops by 32.34% within 24 hours as it faces a steep short-term downturn

OPEN has dropped by 189.51% within 24 hours during a significant market pullback

- OPEN's price plummeted 189.51% in 24 hours to $0.8907, marking its largest intraday decline in history. - The token fell 3793.63% over 7 days, matching identical monthly and yearly declines, signaling severe bearish momentum. - Technical analysts cite broken support levels and lack of bullish catalysts as key drivers of the sustained sell-off. - Absence of stabilizing volume or reversal patterns leaves the market vulnerable to further downward pressure.

Bitget-RWA2025/09/12 06:14
OPEN has dropped by 189.51% within 24 hours during a significant market pullback

New spot margin trading pair — LINEA/USDT!

Bitget Announcement2025/09/11 10:04