🚀 Ethereum Gears Up — Bullish Signals Point to Major Breakout

Recent price changes have left Ethereum (ETH), the second-largest cryptocurrency, trading at $2,633. After breaking $2,700 last week, the asset fell 1.2% in 24 hours.

Despite this short-term correction, Ethereum has risen by 50% in the previous month, indicating strong price strength and market interest.

CryptoQuant writers have constantly observed Ethereum's technical indicators and market activity, noticing the latest price movement.

These experts have said ETH may rise further, highlighting crucial levels and market measures investors should watch.

Ethereum's Bullish Indicators and Breakout
Ibrahim Cosar of CryptoQuant has presented a bullish ETH technical analysis. Cosar said Ethereum has created a “bull flag,” indicating a breakout.

A bull flag is a chart pattern that traders perceive as indicating rising momentum following consolidation. Ethereum has been trading between $2,400 and $2,700 for over three weeks, generating good circumstances for a breakthrough.

Ethereum's prolonged position above the 200-day Exponential Moving Average (EMA) was also noted by Cosar. Staying above this signal has historically indicated market optimism and anticipated price gains.

Cosar predicted an upward advance toward $3,000–$3,500 for Ethereum given its position relative to this EMA.

Market Impact and Retail Activity
Alternative CryptoQuant analyst “elcryptotavo” identified market peak indications.

The expert said that Ethereum's Open Interest (OI) surpassing Bitcoin's is a market indicator, historically connected with market peaks.

ETH has yet to hit this crucial milestone, meaning this expert sees opportunity for more rise before substantial declines.

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