Ethereum News Today: Ethereum Surges 6.0% to $3,152.53 on Bullish Breakout

Ethereum has recently demonstrated a significant bullish trend, with a 6.0% increase in the past 24 hours, bringing its price to $3,152.53. This upward movement is attributed to a clear breakout above a major neckline level on the daily chart, confirming the completion of an inverse head-and-shoulders formation. This technical pattern has been developing since January 2025 and indicates a long-term trend reversal. The breakout projects an 8.3% move, setting the next target at $3,427.46.

The current price range for Ethereum is between strong support at $2,965.72 and resistance at $3,169.73. The price recently crossed above the neckline at $2,886.27, validating the bullish continuation from earlier consolidation zones. The volume during the breakout session also rose, adding confidence to the structural breakout. Ethereum is currently positioned just below the highlighted resistance zone, which aligns with the projection of the inverse head-and-shoulders pattern.

Ethereum’s chart displays three rounded bottoms, forming the left shoulder, head, and right shoulder between January and early July 2025. After several months of accumulation, the price action surged in early July and broke the neckline cleanly. From the breakout point of $2,886.27, the projected upward move is measured at approximately 261.95 points, or 8.3%. This places the price objective at $3,427.46, now marked as the next resistance level on the chart. The breakout move occurred swiftly, supported by momentum and sustained buying interest. The price continues to consolidate above the $3,000 threshold, holding above the previous resistance now acting as support. The current structure shows room for further upside if the resistance near $3,170 is breached in the sessions ahead.

In addition to the reversal pattern, Ethereum appears to be forming a bull flag on the daily chart. After the rapid rally that started earlier this month, the price has entered a narrow consolidation just under the resistance zone. The current flag structure suggests continuation potential, although it remains within the defined resistance range of $3,169.73. The latest price action shows that ETH is attempting to stabilize above its $2,965.72 support. Meanwhile, traders are observing the $3,427.46 target as the likely extension point if the breakout holds. The projected range of movement remains 8.3%, equivalent to 261.95 points from the neckline. Ethereum’s trading structure continues to support the breakout narrative without any signs of immediate weakness in the short term.