Ethereum (ETH/USD and ETHA)

Ethereum (ETH/USD)

We have liked the big triangle base breakout on Ethereum (ETH/USD). Weakness for ETH/USD is retesting the breakout zone support at 4100-3860 along with the rising 13-week moving average near 3943. This crypto currency needs to hold near current levels to maintain confidence in that late 2022-mid 2025 triangle base.

If this support gives way, then watch the key retracement levels for the early April into late August rally as shown in the chart below.

Chart 1: Ethereum (ETH/USD): Weekly chart

iShares Ethereum Trust ETF (ETHA)

The iShares Ethereum Trust ETF (ETHA) is testing its rising 13-week moving average near 29.84. Fibonacci retracements of the April–August rally highlight potential tactical supports at 26.94 (38.2%), 23.89 (50%), and 20.84 (61.8%). Confidence in ETHA's tactical chart pattern would improve if:

1. ETHA holds the upper retracement zone between 26.94 and 23.89, and

2. it remains above the rising 26- and 40-week moving averages at 23.22 and 22.38, respectively.

One risk is that this week's downside gap from 32.96 to 33.44 provides an overhang for ETHA.

Chart 2: iShares Ethereum Trust ETF (ETHA): Weekly chart