Ethereum Eyes $4K as Bullish Pattern Forms — Breakout Imminent?
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Ethereum (ETH) is flashing powerful bullish signals as it holds firmly above the $2,600 mark, defying broader market volatility and setting the stage for a potential breakout.
With a nearly 2% gain in the last 24 hours and a robust 50% rally over the past month, Ethereum’s price structure is positioning itself for a significant move, possibly toward the long-anticipated $4,000 level.
Crypto analyst Ted Pillows highlighted Ethereum’s resilience, noting that ETH remains just 10% below local highs despite a broader market correction.
According to Pillows, ETH’s tight bullish structure, while the broader market cools off, is a sign of accumulation, not distribution.
“ETH’s sharp 50% monthly gain is more than just a number—it’s a statement,” Pillows noted.
It is very much possible that the leading digital asset clearing the hurdle at $2,750 could ignite Ethereum’s next major rally, possibly pushing prices toward the $4,000 milestone.
The daily chart shows Ethereum coiling within a classic ascending triangle pattern, a bullish continuation structure that typically resolves with an upward breakout.
ETH has formed a series of higher lows since early May, while repeatedly testing horizontal resistance around $2,730–$2,750. The tightening price action suggests growing buying pressure beneath resistance, often a precursor to a breakout.
If ETH can decisively close above the $2,750 zone with high volume, it would confirm the triangle breakout, unlocking a measured move target around $3,800–$4,000, calculated by projecting the height of the triangle upward from the breakout point.
ETH Price Chart | Source: TradingView
On the other hand, the Relative Strength Index (RSI) is currently hovering around 63, firmly above the midpoint and signaling strong bullish momentum without being overbought.
Meanwhile, the MACD indicator shows a bullish crossover setup in progress. While the MACD line remains slightly below the signal line, the histogram is beginning to shift positive, indicating a potential resumption of upward momentum.
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