Ethereum holds $2,495 as bull flag forms, with potential breakout targets near $4,000.
ETH trades in $2,460–$2,700 range; altcoins mirror this sideways market structure.
MACD remains neutral and RSI at 58, suggesting momentum is building for a breakout.
Ethereum is still moving in a small range and is currently trading at $2,495.51. The asset has yet to confirm a strong directional trend. Technical analysts observe a bull flag forming on the daily chart. This setup, if validated, may trigger a broader market move involving several altcoins.
Ethereum Forms Bull Flag Amid Choppy Price Action
Ethereum is trading within a defined range between $2,460 and $2,700, according to an analysis by Crypto Rover. This price movement reflects market uncertainty, with both buyers and sellers remaining cautious.
Trading volume for Ethereum reached $17.05 billion in the past 24 hours, which suggests active participation despite low volatility. The daily chart shows a potential bull flag pattern forming, a continuation setup that often follows strong upward trends.
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Ethereum rallied sharply earlier in May, and since then, the price has consolidated in tighter ranges. If the pattern confirms, analysts expect a breakout toward the $3,300–$4,000 zone within one to two weeks.
Altcoins Mirror Ethereum’s Uncertainty as Key Support Holds
Ethereum’s indecisive movement is affecting the broader altcoin market. Most altcoins are trading sideways, these assets appear to be waiting for a confirmed ETH breakout to shift momentum. This correlation suggests ETH remains a leading driver of broader market direction.
As Ethereum remains above the support zone between $2,430 and $2,460, market watchers are tracking the triangle apex and volume changes. Analyst Henry posted on X, “We are in a do or die situation… keep watching this closely,” referencing the tight range ETH is trading in.
According to data from TradingView, Ethereum’s MACD remains neutral, and the RSI stands near 58. These indicators support the current choppy condition but show potential for momentum once price confirms a breakout direction.
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