Ethereum Nears Major Breakout as $1.6K or $4.8K Looms

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A sustained move above realized price could shift market behavior by returning a large portion of holders to profit.

Ethereum (ETH) is sitting at a crossroads that, according to a popular analyst, could define the next major chapter for the second-largest cryptocurrency.

That call landed as the asset slipped almost 4% in 24 hours, failing at the $2,400 range while facing growing pressure from short sellers betting against a near-term recovery.

What the Weekly Chart is Telling Us
Crypto analyst EGRAG CRYPTO posted a detailed breakdown on X on Thursday, arguing that ETH has spent a significant period compressing inside what he describes as a “massive Ascending Triangle structure” on the weekly timeframe.

The asset has continued to respect what he calls the macro “ETH Line,” a long-standing support level that has anchored the chart for years.

The setup is binary, at least in the near term, since a breakdown from the current structure points toward 


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