#Ethereum 1-day chart.

Ethereum $2559

consolidates between $2400 and $2750 on the daily chart, forming a bullish flag pattern aiming for the resistance zone of $3000-$3100. A bullish flag is a continuation pattern that follows a sharp rally (black flagpole) up to $2730 from $1900, with the current range forming the flag.

A bullish breakout above $2600 could reach $3600, calculated by adding the height of the flagpole to the breakout point, but the immediate key area of interest remains in the resistance range of $3100–$3000.

The 200-day exponential moving average (EMA) supports the lower range. The relative strength index (RSI), while still near the overbought area, has significantly cooled off in the last few days.

A breakout of ETH with rising RSI and volume could confirm a bullish trend, while a drop below $2400 risks nullifying this pattern.