$ETH ETH Might Be Pumping High: W Pattern Signals Bullish Momentum in Crypto Market

Ethereum (ETH), the second-largest cryptocurrency by market cap, is showing signs of a potential bullish breakout. A distinct “W” pattern — a classic double bottom formation — has appeared on the Ethereum price chart, sparking excitement across crypto communities and among crypto trading experts. This pattern is widely seen as a strong reversal signal, suggesting that ETH might be preparing for a significant move upward, which could impact the broader crypto market.

This technical formation occurs when a cryptocurrency tests a key support level twice, with a moderate recovery in between, forming a W-shaped pattern on the crypto chart. In Ethereum’s case, this pattern has developed around the $2,900–$3,000 support zone. After a temporary dip and recovery, ETH retested this level and is now climbing again, with resistance near the $3,450–$3,500 range forming the neckline. A confirmed breakout above this resistance, supported by increasing crypto volume, could drive ETH toward the $3,800–$4,000 range.

ETH’s bullish outlook is further supported by several crypto indicators such as RSI and MACD, both of which are trending positively. Traders using crypto bots, crypto automation, and crypto signals are closely watching this movement. Many crypto portfolios are increasing exposure to ETH, and investors are eyeing potential gains not just in ETH but across Ethereum-based crypto tokens, DeFi platforms, NFTs, and Web3 applications.

Ethereum remains a critical player in the crypto ecosystem due to its robust support for smart contracts, crypto staking, and decentralized applications. Its recent upgrades, including ongoing developments toward Ethereum 2.0 and improved blockchain scalability, have reinforced its long-term value. ETH also plays a vital role in crypto lending, crypto borrowing, and crypto yield farming, making it a cornerstone asset for decentralized finance (DeFi).