A bull flag formation has appeared on the Ethereum chart, and in my opinion, it's getting ready to break out in the short term. In other words, a breakout seems imminent.
ETH has been consolidating between $2400 and $2700 for the past 17 days. This price action, combined with the previous strong upward move, has formed a classic bull flag pattern on the chart.
In addition, ETH has been holding above the 200-day EMA for the last 17 days. Staying above the 200-day EMA is a bullish signal, and it's highly likely that in the next strong move, we could see ETH in the $3000–$3500 range. This is the kind of clear bullish signal we’ve seen before major rallies in the past.
Alongside this signal and analysis, we can say that ETH is the pulse of the altcoin market. When ETH moves, the rest of the altcoins often follow. Based on this ETH signal and analysis, we may see similar positive movements across many altcoins. That’s why this signal could be an important reference point for you. If ETH takes off, the altcoin market will explode.
⚠️ Reminder:
Chart patterns are like maps. They show the route, but you're in the driver’s seat. Patience, discipline, and a solid plan are what make winners in this market.
Written by ibrahimcosar
