ETHUSDT Preparing for a Breakout: Bullish Flag Pattern?
2024-09-25

Based on today's ETHUSDT chart, I see a flag pattern forming after a strong rally. Currently, the price is hovering around the 89-EMA dynamic support at $2,609. I expect that after ETH corrects slightly and retests the support zone around $2,610, the price will continue to bounce and break the flag channel, taking ETHUSDT to the next target around $2,720.

Technically, the RSI is currently at 42, indicating that selling pressure is still present, but the upside potential is still very positive if the price stays above this support zone. Personally, I think this could be a good opportunity to prepare for a big jump as the market continues to recover. This upside is expected to reach at least the old high zone at $2,700.