Ethereum-focused token ETHFI has breached a key support level, signaling a potential breakout in its price trajectory. The recent move follows months of consolidation, confirmed by an ascending triangle pattern on the daily chart and marked by sustained trading volume.
Technical analysis indicates ETHFI’s resilience above the $1.30 support, with strong volume surge exceeding 550 million units in mid-August. This spike reinforces bullish sentiment amidst expanding market activity. Boasting higher highs and higher lows since early August, ETHFI presents a clear bullish short-term trend.
The breakout is further supported by Bollinger Bands widening, indicating increased volatility. ETHFI trades above the mid-band at $1.251 with immediate resistance located at the upper band of $1.38.
According to Alpha Crypto Signal, ETHFI’s recent move suggests a potential rally to $1.50-$1.60 if the support at $1.30 holds firm. The token has shown resilience since breaking above the ascending triangle in early August.