Price is compressing between a descending resistance trendline and a relatively stable support base around 0.0308–0.0310 BTC, increasing the probability of a decisive breakout by late November or early December.
A confirmed breakout above the wedge resistance—currently near 0.0338 BTC—could trigger a measured move toward 0.041–0.042 BTC, aligning with the 0.786 Fib retracement and historical supply area.
A more conservative breakout from 0.0303 BTC still projects upside toward 0.037–0.038 BTC, roughly a 15–25% rally from current levels.
Importantly, ETH’s daily RSI is attempting to reclaim a multimonth resistance band near 51, a zone that has capped every failed upside push since August. A clean RSI breakout would add momentum to the bullish bias.
Fundamentally, the wedge reflects ETH’s relative underperformance throughout 2025. Bitcoin has dominated capital flows amid ETF demand and macro uncertainty, leaving ETH priced at a multi-year discount.