Ethereum mirrors the early 2024 bullish pattern, with targets set at $3,700, $4,450, and $7,000.
$2,100–$2,200 support holds as $112M short squeeze fuels price recovery toward $2,500.
ETH ETF inflows surged 68.4% in June as capital rotation from BTC supports bullish momentum.
Ethereum is showing signs of strength as it mirrors a previous bullish price structure from early 2024. Technical patterns, on-chain behavior, and trading activity now suggest the asset may soon break above the $2,800 level. Analysts continue to monitor Ethereum’s momentum as it aligns with mid-term and long-term target zones.
Fractal Pattern Aligns With Historical Rally
Ethereum’s current structure resembles the early 2024 consolidation phase, when ETH ranged near $2,200 before a sharp breakout. According to analysis prepared by Crypto Gems, the pattern may repeat, with price targets set at $3,700 and $4,450 for the mid-term and $7,000 for the long term.
https://twitter.com/cryptogems555/status/1937746397412889055
The daily chart shows ETH holding support between $2,100 and $2,200, an area that previously triggered strong upside movement. According to CoinGlass, this level has once again attracted buyers, especially after the brief weekend breakdown was followed by a quick recovery due to easing geopolitical concerns.
Buy-side pressure has increased following one of the largest short squeezes since May. More than $112 million in shorts were liquidated in 24 hours, driving Ethereum's rebound toward $2,500. Despite this move, bearish sentiment on Binance is rising, with short positions growing from 28% to 39% in one day.
Liquidity Metrics and ETF Flows Support Breakout Potential
On-chain metrics continue to show growing interest in ETH. According to Amr Taha, over 61,000 ETH were withdrawn from Binance on Monday, possibly indicating a shift from short-term trading to long-term holding.
Meanwhile, the two-week liquidation heatmap shows ETH targeting liquidity clusters above $2,500, which could act as price magnets in the near term. According to Swissblock, capital is beginning to rotate from Bitcoin to Ethereum.
ETH ETF net inflows grew 68.4% in June, while BTC ETF inflows declined. If this capital shift continues, Ethereum may reclaim $2,800, supporting Crypto Gems’ price forecast. At the time of writing, ETH is trading at $2,420.05.
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