Cryptocurrency ETHFI continues to hold above the $1.30 level after successfully breaking out of an ascending triangle. Rising trading volume and strong technical signals point to further growth.
Holding Above $1.30
According to Alpha Crypto Signal, ETHFI confirmed a bullish breakout from an ascending triangle on the daily chart, retesting and holding the $1.30 support. This move followed months of narrowing price action, establishing from early May through August.
Rising Trading Volume
Market volume has shown significant recovery since early August. From lows near 400M at the beginning of the month, volume climbed above 550M by mid-August, matching July's highs. The most recent spike pushed activity close to 560M before a minor pullback, reflecting sustained trader interest.
Technical Indicators Confirm Bullish Trend
On the 4-hour chart from Binance, Bollinger Bands have widened, signaling increased volatility. ETHFI trades above the mid-band at $1.251, with the upper band at $1.38 acting as immediate resistance. The Stochastic RSI shows a recent bullish crossover, suggesting room for upward movement.
With strong technical backing, ETHFI's breakout appears solid, and bulls are poised for the next push. If $1.30 holds as support, the next targets could be $1.50 and $1.60.
