Wedge Breakout Or False Alarm? Ethereum Faces Its Biggest Support Test Yet

Ethereum’s price action is at a decisive point after breaking out of a rising wedge ￰0￱ the move initially fueled optimism for higher targets, the retest of a critical support zone will determine whether this breakout holds or fades into a false ￰1￱ the $3,900–$4,100 range now acting as the line in the sand, Ethereum faces one of its most important tests ￰2￱ Breaks Rising Wedge: Key Retest In Play According to a recent post by crypto analyst The Boss on X, Ethereum’s weekly chart was previously showing a rising wedge ￰3￱ technical pattern is often viewed with caution as it can signal a potential bearish reversal. However, in a surprising and bullish development, Ethereum broke out of this pattern to the upside, suggesting a strong underlying ￰4￱ Reading: Ethereum Slides 6% as Bulls Lose Grip on $4,500 Resistance; $4,000 Incoming?

Following this breakout, the price has now pulled back to perform a crucial re-test of the very level it just ￰5￱ re-testing of the breakout point is a classic move in technical analysis, where the previous resistance level is now being tested as new ￰6￱ analyst highlights that if ETH successfully holds this key re-test level, it will open the door for a continued move higher. Meanwhile, the next potential resistance area, indicated on the analyst’s chart, is situated at the $4,887 price ￰7￱ Targets Intact While Price Stays Above Support Crypto Candy, in a recent update, highlighted Ethereum’s sudden move back into the weekly support zone between $3,900 and $4,100.

This zone has proven to be a crucial area for ETH, serving as a strong foundation for buyers to maintain the current bullish ￰8￱ fact that Ethereum is still holding above this level suggests that market sentiment remains positive, with price aiming for higher ￰9￱ Reading: Ethereum Network Activity Heats Up As Fees Hit $1.4M In 24H According to the analyst, as long as ETH maintains its position above the $3,900–$4,100 support zone, the overall trajectory points toward retesting its all-time high ￰10￱ this zone serves as a make-or-break area, it could determine Ethereum’s next big ￰11￱ here keeps the bullish case intact and strengthens the probability of another significant rally in the weeks ahead.

However, Crypto Candy also warned of a critical ￰12￱ Ethereum fails to defend this support and closes below $3,800, the entire outlook could shift ￰13￱ a move would invalidate the bullish structure and potentially invite strong selling pressure, opening the door for a deeper correction. Thus, the coming sessions remain crucial as ETH battles to keep its footing above this vital support ￰14￱ image from Adobe Stock, chart from ￰15￱