Ethereum News Today: Gigachad Surges 24% as Ethereum Drives Crypto Market to $4 Trillion

Gigachad (GIGA) has emerged as a notable player in the cryptocurrency market, which recently surpassed the $4 trillion market cap milestone. Ethereum (ETH) has been a significant driver of this bullish trend, gaining 20% this week and trading near $3,650. This momentum has extended to major memecoins, with GIGA experiencing a 24% surge in the last day, contributing to a 49% rally over the past 90 days.

Traders are closely monitoring a developing harmonic pattern on GIGA's charts, which could signal further upside potential. On the daily timeframe, GIGA is forming a Bearish ABCD harmonic pattern. Despite its name, the CD leg of this pattern typically indicates a bullish continuation phase, where the price pushes higher until the pattern reaches its final target.

This pattern began at point A around $0.008447 and rallied to point B near $0.032930. Following a corrective pullback to point C at $0.014530 in early July, GIGA has entered a fresh uptrend. It is currently trading around $0.02424, advancing along the CD leg and approaching a key technical barrier—the 200-day moving average near $0.02960.

If the harmonic projection completes, the 1.33 Fibonacci extension of the BC leg suggests a potential move toward $0.039013. This target aligns with the AB leg’s length and marks the Potential Reversal Zone (PRZ), where profit-taking could emerge. If GIGA can break above the 200-day moving average and sustain momentum, it could climb another 58% from current levels before hitting the PRZ around $0.039. However, maintaining support above the 100-day moving average will be crucial to keep this bullish outlook intact.

With the broader crypto market in full rally mode and GIGA shaping up as one of the cleanest harmonic setups among memecoins, the path higher remains favorable in the short term—at least until it approaches its PRZ target. This analysis is based on the current market conditions and harmonic pattern, providing a potential upside move for GIGA. However, it is important to note that this article is for informational purposes only and should not be considered financial advice. Always conduct your own research before investing in cryptocurrencies.