Ethereum Eyes $4K: Bullish Chart Pattern Sparks Rally Hopes

ETH''s price action paints a tantalizing picture—a textbook bullish pattern suggests the next stop could be $4,000. Traders are leaning in, but remember: in crypto, ''patterns'' have a funny way of disappearing faster than a hedge fund''s promises.

Key signals flashing green: The setup mirrors previous pre-breakout behavior. Volatility''s rising, liquidity''s stacking—classic ingredients for a momentum surge. Just don''t ask the ''fundamentals'' crowd to explain it.

Caveat emptor: While the charts scream upside, macro risks lurk. Regulatory hawks and overleveraged degens could turn this party sour fast. Pro tip: Watch the $3,200 level like a hawk—lose that, and the $4K dream gets delayed.

Data from CoinGlass shows that open interest for ETH futures has risen to an all-time high as traders have jumped back into the market with enough strength.

This is probably the fuel behind the latest volatile price action that the token has experienced and this kind of volume – $40 billion worth of futures contracts were negotiated today – supports a bullish ethereum price prediction.

Ethereum Price Prediction: Inverse Cup-and-Handle Supports Push to $4,200

Ethereum has been forming a price pattern called cup-and-handle that typically anticipates a strong bullish move.

The neckline of this pattern is the key resistance to watch as a break above it triggers a powerful buy signal. For ETH, this resistance currently sits at $2,750 and the price is tagging that threshold today.

Both short-term and long-term moving averages are NEAR each other as the price has been consolidating for days after tagging over and over again this particular threshold. This could be interpreted as an accumulation where deep-pocketed investors are scooping up as many tokens as they can before a big move.

Trading volumes in the futures market support this theory.

To estimate how high ETH could go if a bullish breakout occurs, technical analysts tend to use the size of the cup as a reference. In this case, the token dropped by 49% from its February consolidation until its April 9 lows.

If ETH produces that kind of gain after a bullish breakout, this would result in a bullish Ethereum price prediction of $4,200 in the next 30 to 60 days.

As ethereum and other top tokens seem ready to make new all-time highs, storing these digital assets safely should be a priority.

One of the hottest crypto presales of this year, Best Wallet ($BEST) has launched its top-notch crypto wallet with advanced features, low fees for swaps, and ample support of multi-chain support.

Best Wallet (BEST) Raises $13M to Launch Its Web 3 Storage Solution

Best Wallet (BEST) offers a solution to investors who want more out of their wallets apart from using them to store their cryptocurrencies.

This project introduces novel features like the Upcoming Tokens tool, which gives investors early access to new crypto presales like the recently concluded MIND of Pepe (MIND) presale.

This wallet supports assets in more than 60 different blockchains and offers low fees on token swaps.

The $BEST token is the ecosystem’s asset. Users will buy it to get discounts on swap fees and early access to new features. As the solution is embraced by a higher number of users, the price of this utility token will likely explode.

To buy $BEST before the presale ends, head to the Best Wallet website and connect your wallet. If you don’t have one, you can just download the Best Wallet app. You can either swap USDT or ETH or use a bank card to invest.