
Ethereum seems to be setting up for a big move.
A new bull flag pattern has formed on its weekly chart, hinting that a strong breakout could send prices soaring — possibly by as much as 76% if it plays out fully.
Right now, Ethereum is trading around $4,120, down about 6% from last Friday’s high of $4,382.
Even so, the token is still 16.7% below its all-time high of $4,946, which it hit in late August this year.
Over the weekend, Ethereum dropped to around $3,574, following a broader sell-off in global markets.
The drop came shortly after U.S. President Donald Trump announced new tariffs on Chinese goods — including rare earth materials and key software used in AI and tech production.
That news shook market confidence, and crypto wasn’t spared.
Officials in the U.S. have said talks with China are ongoing before the November 1 tariff deadline, but traders are staying cautious.
This uncertainty shows clearly in the Crypto Fear & Greed Index, which still reads “fear,” signaling that investors are waiting for clearer news before taking risks again.
But despite all that, Ethereum’s chart is painting a very different story.
Technically, ETH looks ready for a potential comeback that could push it toward a new all-time high if bulls take control.
Ethereum’s bull flag setup
Ethereum has been trading inside a bull flag — a pattern that forms when prices move sideways or slightly down after a strong rally.
This setup usually means buyers are catching their breath before pushing prices higher again.
At the moment, Ethereum is testing the lower part of that flag, around $3,875, which is acting as strong support.
If it can hold above this level, the bullish setup remains intact.
A breakout above the top of the flag — near $4,440 — would likely confirm the pattern.
If that happens, Ethereum could aim for its technical target around $7,245, which would be about a 76% gain from current levels.
Momentum building for bulls
Some indicators are already starting to favor a breakout.
The Aroon Up indicator stands at 42.86%, while the Aroon Down is at 0%, showing that sellers are losing strength and buyers are regaining control.
Meanwhile, the RSI (Relative Strength Index) has cooled off from overbought levels and is now sitting near neutral.
That’s a healthy sign, suggesting Ethereum still has room to climb before hitting any exhaustion point.
Key resistance zones to watch
Ethereum could face some turbulence on the way up.
Data from CoinGlass shows a dense cluster of liquidation levels between $4,100 and $4,250.
This area could act as a short-term resistance zone, as sellers might try to defend it.
However, if Ethereum manages to break and stay above $4,250, it could confirm the start of a bigger reversal.
From there, ETH might aim for the $4,450–$4,600 range in the near term — potentially breaking out of its current consolidation phase and setting up for a stronger move higher.
In short, while the broader market mood remains cautious, Ethereum’s chart is quietly signaling strength.
If bulls can hold key levels and push through resistance, the next big leg higher might just be around the corner.