ETHUSDT and long term profit strategy. 
2024-10-11

Technical Overview: 
 Ascending Trendline Support:  The chart shows a long-term upward trendline, suggesting a steady support level around the $2,000 - $2,200 area. This trendline has historically provided strong support for price rebounds.

 Symmetrical Triangle Formation:  ETHUSDT is currently consolidating within a symmetrical triangle pattern (highlighted in red), indicating indecision in the market. This pattern often leads to a breakout, with a likely strong price movement in either direction.

 Potential Breakout:  The breakout point appears to be nearing, with price action expected to either bounce from the lower trendline or break through the triangle’s upper boundary. A breakout above $2,532 could lead to a strong upward move toward the next key resistance around $2,817.

 Bullish Scenario:  If ETH breaks out to the upside, the next major target would be the $3,000+ region, indicated by the blue upward arrow. The current consolidation may be a period of accumulation before a bullish move.

 Bearish Scenario:  If the price breaks down from the triangle and the trendline, ETH could revisit the support around $2,000 or lower, but this scenario appears less likely based on current momentum.

 Conclusion: 
Ethereum is at a critical juncture, with the symmetrical triangle and long-term trendline suggesting a breakout is imminent. Traders should watch closely for a breakout signal, with a preference for the upside targeting the $3,000 level.