- Ethereum is holding its angled support near $3730 and is pushing toward the breakout zone above $4000.
- If ETH confirms the breakout it could see a measured move toward the next target at the $4800 level.
- The chart shows RSI near 78 and Fibonacci levels at $3447 and $3194 as key short term support zones.
Ethereum (ETH) is approaching a potential breakout from a bull flag formation. The current price hovers around $3,733 with upside targets at $4,000 and $4,800. The support line beneath the current trend provides structure to a steep yet orderly rise.
Bull Flag Formation Guides Upside Setup
The ETH/USDT chart on Coinbase shows Ethereum moving within a well-defined bull flag channel. The consolidation follows a multi-week surge that began near $2,855, the last major swing low on the chart. The pattern suggests Ethereum is preparing to exit its consolidation range, possibly setting the stage for a measured move higher.
The trendline, drawn from June lows, serves as the angled support that is still holding strong. Ethereum has repeatedly respected this line throughout its climb, creating higher lows in the process. Candles forming tight ranges with long wicks indicate that sellers are being absorbed near the top of the flag pattern.
The chart includes Fibonacci retracement levels, with the 0.236 level near $3,447 and the 0.382 mark at $3,194. These levels represent potential bounce zones should Ethereum briefly retrace before continuing its upward path. The 0.5 level at $2,989 is another key range of interest for traders watching for deeper pullbacks.
Key Price Targets and Pathway to $4,800
Based on the breakout setup, Ethereum’s short-term upside target stands at $4,000. This level matches previous resistance from earlier cycles and psychological importance. If price clears this zone, momentum may accelerate into the $4,800 range, which appears on the projected path in the chart.
The price structure aligns with the typical breakout from a bull flag, where the flagpole’s height often mirrors the breakout extension. The projected rise shows Ethereum spiking above $4,000 and consolidating briefly before aiming for $4,864, followed by another push to the $4,800 target.
Volume has remained consistent during the upward grind, and the RSI reading stands at 78.76. This indicates strong bullish momentum, though the asset may be approaching overbought territory. A brief dip toward $3,200 would not invalidate the pattern and could act as a healthy reset before further upside.
Ethereum continues to benefit from strong structural support. The angled white trendline shown on the chart provides a base that has not been broken since early July. Each bounce from this line has resulted in new highs, reinforcing the reliability of the support mechanism.
Can Ethereum Maintain Structure to Reach $4,800?
Will Ethereum’s angled support line and flag structure be enough to push price through $4,000 toward the $4,800 mark?
The pattern suggests a breakout is near. Historical setups of this nature typically lead to steep advances, especially when paired with steady volume. The upward trajectory in the projection assumes another small dip may precede the rally continuation.
Ethereum’s current market behavior reflects accumulation within a bullish range. Long wicks on daily candles signal persistent demand at every minor retracement. The blue projection path on the chart includes multiple inflection points, showing likely areas of pause or bounce before final targets are reached.
Support levels are clearly defined. If Ethereum dips, eyes will be on $3,447 and $3,194 for potential buy zones. Below that, $2,989 is marked as a deeper retracement line, aligning with the 0.5 Fibonacci level.
