Ethereum’s megaphone breakout is confirmed after a clean retest of $4,270 support; technicals and a weekly MACD crossover point to higher targets near $6,800–$7,000, with $4,800 as the immediate resistance to reclaim.
Ethereum broke a four-year bullish megaphone, retested $4,270 support and targets $6,800–$7,000.
Weekly MACD crossover and measured pattern extensions support further upside momentum.
Historical August closes and volume confirm the breakout; immediate resistance sits at $4,800 after a 7.7% rebound.
Ethereum megaphone breakout confirmed after $4,270 retest; view targets of $6,800–$7,000 and trade plans. Read analysis and next steps.
Ethereum breaks a 4-year bullish megaphone, retests $4,270 support, with targets at $6,800–$7,000 as MACD crossover confirms momentum.
Ethereum has broken a four-year bullish megaphone pattern and completed a clean retest of breakout support at $4,270. The structure’s measured extension targets a move toward $6,800–$7,000, reinforced by a weekly MACD crossover and supportive historical monthly-closing patterns.
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The Ethereum megaphone breakout signals a continuation pattern: price reclaimed breakout support at $4,270 and the measured extension projects targets near $6,800–$7,000. Confirmation comes from weekly MACD and volume behavior, while $4,800 serves as the near-term resistance to watch.
The projection uses a 60.90% extension from the pivot line of the megaphone. Historical respect for the megaphone boundaries and a confirming weekly MACD crossover add weight to the target. Traders should monitor volume on rallies and reclaim of $4,800 for conviction.
Past monthly closes in August that ended green often preceded strong year-end rallies, including gains of 92.9% in 2017 and 25.3% in 2020, according to CoinGlass data. Conversely, red August closes historically averaged a -14.1% drawdown. These patterns add context but do not guarantee outcomes.
The monthly MACD shows a bullish crossover, aligning with weekly momentum signals. Price action respected multiple pivot levels at $1,600, $2,800 and $3,600 before breaking above $4,800 and completing a clean retest near $4,270. At time of reporting, Ethereum traded near $4,621.
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Source: https://en.coinotag.com/ethereum-may-rally-after-breaking-megaphone-and-retesting-4270-support-as-macd-signals-6800-7000-potential/