Ethereum Forms Bull Flag on Weekly Chart, Analyst Says Breakout Target Could Reach $6,900

Ethereum trades at $4,463 in a weekly bull flag pattern, with analysts eyeing a $6,900 target.

ETH must clear $4,505 resistance, with Fibonacci levels suggesting $6,035 as the next key upside.

Spot ETH ETFs and whale accumulation show $80M inflows, boosting confidence in the bullish setup.

Ethereum is trading inside a bullish continuation pattern that has developed on the weekly chart after a strong rally since June. At the time of writing, ETH was priced at $4,463, showing stable momentum above $4,400. The setup suggests that a breakout could push the price toward $6,900.

Bull Flag Structure Strengthens

The weekly chart shows a clear bull flag formation, where price has consolidated within two parallel downward-sloping lines. This structure has formed after Ethereum’s rally from under $2,500 in June to above $4,000 in August. Since then, ETH has maintained higher lows while staying within the flag zone.

According to analysis prepared by Titan of Crypto, the measured move from the previous uptrend sets a breakout target near $6,900. This projection is based on the length of the earlier rally extended beyond the consolidation zone. The dotted path on the chart reflects potential continuation toward that level once a confirmed breakout occurs.

Trading volumes during this consolidation phase have remained steady, suggesting consistent market activity. Weekly candles also show reduced volatility compared to the earlier surge, which supports the idea of accumulation before another expansion move.

Market Data and Technical Signals

Ethereum market data confirms strong participation. According to CoinMarketCap data, ETH’s market capitalization stood at $538 billion, while daily trading volume reached $47 billion. The cryptocurrency traded within a range of $4,396 to $4,550 during the last 24 hours, ending near $4,463.

Source: AliMartinez(X)

Crypto analyst Ali Martinez noted that ETH faces resistance around $4,505, which needs to be cleared for momentum to build further. Meanwhile, according to Kamran Asghar, Ethereum has confirmed a breakout above $4,282, with the first target at $6,035 based on the 1.618 Fibonacci extension.

Institutional interest has also grown. SoSoValue reported that U.S. spot Ethereum ETFs purchased around $80 million worth of ETH in one day. These inflows, coupled with whale accumulation and steady on-chain activity, add strength to the current bullish setup.

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