Ethereum News Today: Flare (FLR) surges 21% weekly as Ethereum (ETH) rallies 26%

Flare (FLR) has been gaining traction in the broader cryptocurrency market, which has been experiencing a bullish wave led by Ethereum (ETH). Ethereum has surged 26% over the past week, trading above $3,775, and this positive market sentiment has extended to promising altcoins, including Flare (FLR).

FLR has seen a 3% gain in the last 24 hours, contributing to a weekly rally of 21%. Beyond these numerical gains, a developing harmonic structure on the daily chart is attracting the attention of traders. This structure suggests that the token may have more room for growth.

On the daily timeframe, FLR is forming a Bearish Bat harmonic pattern, a formation closely monitored by technical traders. Despite its name, the CD leg of this pattern often indicates a bullish continuation phase. During this phase, the price accelerates toward the final target zone before any potential reversal.

The Bat pattern began at point X near $0.03287, slid to point A, bounced to point B, and then retraced down to point C near $0.01481. From there, FLR has mounted a solid rebound and is currently trading around $0.02062, steadily climbing along the CD leg toward its projected Point D.

If this harmonic setup completes, the Potential Reversal Zone (PRZ) lies between $0.03037 and $0.03287. These targets correspond to the 0.886 and 1.0 Fibonacci extensions, which are classic completion levels for a Bat pattern. From current prices, reaching this zone would mark an impressive up to 59% rally.

To maintain this bullish outlook, FLR must continue holding above its 200-day moving average near $0.01889. A brief retest of this level is possible, but holding it as support will keep the bullish momentum alive.