Ethereum has formed a symmetrical triangle on the 12-hour chart, with resistance at $2,474 and a projected breakout target of $3,000, according to analyst Ali Martinez. The previous breakout from a similar pattern produced a 31% gain in three days. ETH is currently holding between $2,480 and $2,510 after testing an eight-month high of $2,660. More than $300 million in ETH was withdrawn from exchanges to cold wallets before the pattern formed.
Shiba Inu is also compressing. On the daily chart, rising support and descending resistance converge near $0.00000506. SHIB previously fell from the $0.00000650 to $0.00000430 area and began recovering around July near $0.00000410, forming a series of higher lows. The spot market remains within $0.00000513 to $0.00000527, with the daily RSI at 52.14. Bollinger Bands are narrowing and MACD momentum has weakened, signaling a decisive breakout may be near. Community attention has returned, with Whales Care describing SHIB as waking up through slower market movements, though price action remains measured. The local bullish setup requires SHIB to hold above $0.00000500.
SHIB liquidity flows across tier-1 exchanges showed a redistribution. Binance recorded -$122,020 and Coinbase -$156,070 in net outflows, suggesting withdrawals for longer-term storage, while OKX saw +$199,480 and Bybit +$93,820 in net inflows. Binance led spot volume at $2.31 million, while Bybit daily volume dropped 64.49% to $603.10K.
The combination of Ethereum’s triangle breakout setup and SHIB’s tightening range puts both assets at a potentially volatile inflection point. Until a confirmed breakout occurs, buyers and sellers remain locked in a compression structure.
