Ethereum Chart Turns Bullish: New Cycle Energy Points To $5,000

Ethereum is back to trading just above $3,300 per ETH in a slow bullish extension over the past week. After months of wide swings and failed follow-throughs above $3,000, the structure on the monthly timeframe chart is beginning to look bullish in a way that traders should take seriously. A recent technical breakdown shared by Merlijn The Trader on X shows that Ethereum is approaching a moment where consolidation could give way to forceful expansion, with $5,000 as the most important inflection point. Bullish Pennant Says Bullish Momentum About To Be Unlocked The chart showing the technical analysis from Merlijn shows a bullish pennant forming on Ethereum’s monthly timeframe source: https://www.newsbtc.com/news/ethereum/ethereum-chart-turns-bullish/