The formation’s upper boundary is a horizontal trendline, around the $4,800 to $4,900 range. Ethereum has struggled around that horizontal resistance, including during the 2021 peak and again during its return to record peaks. The lower boundary, however, has been the more important part of the structure because it has defined the larger bull-market trend for almost a decade.
Where Ethereum Goes From The Golden Triangle The Golden Triangle now leaves Ethereum with two scenarios. The first is the bullish path, which depends on ETH continuing to hold the long-term ascending support line. The important breakdown level is at $1,950, meaning Ethereum still has to close the current 3-week candlestick above this level to keep the nine-year structure alive.
At the time of writing, Ethereum is trading at $1,575, down by 6% and 22% in the past 24 hours and seven days, respectively. However, there’s still time for Ethereum to return above $1,950 before the end of June.
