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Ethereum Bull Pennant Targets $5,000 as Breakout Pressure Intensifies.
Ethereum (ETH) trades at $3,804.74, posting a 4.96% 24-hour increase. A bull pennant structure now signals a possible rapid move toward $5,000.
Classic Bull Pennant Structure Forms on Ethereum
Technical analysts are tracking a developing bull pennant on Ethereum’s daily chart. Titan of Crypto reported that ETH’s recent vertical rally from under $2,000 to over $3,600 formed the pole of the pattern.
The price has since consolidated into a downward-sloping symmetrical triangle, forming the pennant. This coiling phase often reflects market equilibrium before a breakout continues the prior trend. If Ethereum breaks out above this pattern with volume, the target technical measure is at $5,018.

Traders are monitoring for a confirmed breakout. Key signals will be a daily close above the pennant resistance, increased volume, and continued price action north of the $3,800-$3,900 area.
Transaction Surge Points to Rising Network Usage
On-chain activity is also supporting Ethereum’s bullish setup. Christiaan noted that Ethereum transactions have reached their highest level in a year. This rise in user engagement suggests increased interest in the network across multiple sectors.

Transaction growth can signal higher demand, especially during consolidation periods. This activity may provide foundational support as Ethereum prepares to validate the bull pennant. As more users interact with the network, technical patterns often gain stronger backing from fundamental factors.
Sustained on-chain growth may help push Ethereum toward the projected $5,000 mark more quickly if the breakout confirms.
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As no prominent analyst named "White pick" is widely recognized in the cryptocurrency space, a short-term analysis of Ethereum (ETH) is based on recent market data and technical trends. Ethereum, like Bitcoin, has experienced recent volatility, but some technical indicators suggest a potential short-term bounce amid otherwise bearish sentiment. 

Here is a short analysis based on recent trends:

Current market mood: The overall market sentiment for Ethereum is displaying a bearish bias, though technical indicators suggest a possible relief rally. The Fear & Greed Index is at 29, indicating fear in the market.

Price action and moving averages: Ethereum recently reclaimed its 200-day Exponential Moving Average (EMA) after falling. However, it remains below the critical 30-day Simple Moving Average (SMA), which suggests the rebound could be temporary rather than a major reversal.

Recovery and resistance levels: After recovering from lows, Ethereum is currently testing the $3,660 level. A sustained move above this could open the door for a test of the $3,815 level, while a failure could see a retest of support near $3,470.

Short liquidations: In the last 24 hours, there was a significant volume of ETH short liquidations, which has helped fuel the recent price recovery.

Long-term potential: Despite short-term volatility and sideways trading expected for the rest of 2025, many analysts remain bullish on Ethereum's long-term prospects. Continued network upgrades, ETF inflows, and adoption of layer-2 solutions are cited as potential growth drivers. 
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