Ethereum bounces off 200-day EMA support, shows bullish signs.
Pattern projects 33% upside target toward $3,577 resistance level.
Open interest rises 2.73% to $32.93 billion.
Ethereum has bounced above $2,570 as Bitcoin reclaims $109,000, with ETH trading positively to start the weekend. The bounce from the 200-day exponential moving average has created a bullish flag pattern that analysts believe could deliver over 30% upside potential in the coming weeks.
Current price action shows Ethereum consolidating sideways between key Fibonacci retracement levels at $2,395 (38.20%) and $2,699 (50%). This consolidation follows a 50% surge in early May that established the foundation for the current bull flag formation.
The 200-day EMA aligns perfectly with the lower boundary of the flag pattern, providing additional technical support for the bullish setup. Growing underlying strength has also increased the likelihood of a positive crossover between the 50-day and 100-day EMAs, w
We współpracy z: https://thenewscrypto.com/ethereum-forms-bull-flag-pattern-with-rally-potential-to-3577/
