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#Ethereum Macro View Update 📊🔍
#ETH has closed a monthly candle outside the 7-year rising wedge. A confirmed breakout requires the next monthly close to remain outside.
Here are the three possible scenarios I’m watching:
1️⃣ Reintegration: Key support holds, leading to a bounce that pushes ETH back inside the wedge, invalidating the breakout.
2️⃣ Triple Top Formation: Support holds, but ETH only retests the wedge before rolling over into a longer-term top.
3️⃣ Breakdown & Bear Market: If support fails, ETH confirms a deeper correction.
At this stage, Scenario 1 or 2 seems most likely.
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