ETH Breaks Bull-Flag Structure, Targets $3,050
Ethereum's price has broken through its bull-flag structure, clearing $2,660 and shifting market focus to upside targets near $3,050.
The breakout occurred alongside a broader risk-off tone across equities, where rising Treasury yields and a stronger dollar pressured both stocks and crypto simultaneously.
Bond market volatility isn't going away soon, keeping ETH's breakout on probation. For the rally to extend, a sustained close above $2,800 is needed, targeting the $3,050-$3,445 zone outlined by Reuters.
If this happens, Ethereum holders who bought the breakout will be sitting on gains of just 14%. However, if the price falls below $2,560-$2,565, it weakens the setup, and a drop under $2,350-$2,360 would invalidate the rally structure entirely.