#EthereumCommunity ๐ | #ETH | #Crypto | #BullFlag | #SupplyShock
๐ Etherโs Bull Flag Signals Possible Surge
Ethereum (ETH) recently touched a multi-year high of $4,792, up 45% from its August 3 low of $3,354. Itโs now consolidating just below its all-time high ($4,867), while a bull flag pattern hints at a potential 34% move higher โ possibly toward $6,100.
โก Key Technicals:
ETH rallied 126% (JuneโAug), confirming a bullish breakout above $3,770.
Bull flag target sits near $6,000, though success rates for this pattern hover around 54%.
Critical resistance: $4,700 โ a breakout could trigger further gains.
๐ On-Chain Strength:
Exchange-held ETH supply has dropped to a 9-year low (12.36%), just 18.5M ETH left on exchanges.
Over 35.7M ETH staked (~30% of supply) reflects strong holder conviction.
Aggressive buying by ETF issuers & treasuries tightening available supply โ potential supply shock.
๐ Big Picture:
Institutional demand via spot Ethereum ETFs and treasury accumulation continue to fuel optimism. Still, volatility remains high โ do your own research (DYOR) before investing.
