#cryptotradingpro

$ETH Price Poised for a Breakout as Golden Cross and Bullish Flag Form! 🚀

Ethereum ($ETH) is showing strong bullish signals, with its price drifting upward today, June 8, amid a broader crypto market rally. 📈 The daily chart reveals ETH consolidating after hitting a multi-month high of $2,873 in May, up from $1,390 just weeks prior. This setup is forming two powerful technical patterns:

1️⃣ Bullish Flag Pattern: ETH’s consolidation follows a sharp flagpole rally. The projected target? A surge to $4,015, just shy of last year’s high of $4,080.

2️⃣ Golden Cross: The 50-day and 200-day moving averages are converging, signaling a potential bullish crossover that could ignite a major rally. 📊

Key Catalyst: Trump’s Blue-Chip Crypto ETF

The hype around a new blue-chip crypto ETF, with ETH and BTC comprising 80% of the fund, is boosting demand. Spot ETH ETFs have seen 9 consecutive weeks of inflows, totaling over $4.5B, with assets under management now exceeding $11B. Open interest in ETH futures has also soared to $37B, the highest since mid-June. 💸

What’s Next for ETH?

Technical indicators and strong fundamentals, driven by ETF inflows and declining exchange supply, point to a potential breakout toward $4,000. However, a drop below last month’s low of $2,125 could invalidate this bullish outlook, potentially pushing ETH toward its YTD low of $1,390.

Is ETH gearing up for a massive bull run? 🐂 Stay tuned!