ETHFI Surges 6.21% as Bullish Pennant Points to 50% Breakout Potential

ETHFI has shown increasing signs of a potential breakout amid a well-defined bullish pennant pattern that has been in place since May. The token is currently trading at $1.28, having recorded a 6.21% increase in the last 24 hours [1]. This upward movement reflects growing bullish pressure, as the price continues to push against the upper resistance line of the pennant structure. Analysts note that the pattern has been consolidating for several months, with higher lows forming consistently since April, suggesting a steady build-up of momentum [2].

The circulating supply of ETHFI now stands at 42.1% of the maximum supply, with 421.12 million tokens in circulation out of a total of 1 billion [3]. This moderate supply inflation environment, combined with strong market participation, has contributed to the asset’s recent price resilience. Daily trading volume reached $156.69 million, a 2.3% increase, indicating sustained interest and liquidity in the market [4]. The volume-to-market cap ratio of 28.83% further underlines the active nature of ETHFI’s trading environment [5].

From a technical perspective, ETHFI’s chart has developed a textbook bullish pennant pattern, characterized by converging trendlines that have contained price action for over three months. The tightening of the pattern suggests that a breakout could be imminent. According to historical chart analysis, a successful breakout from this structure could lead to a rally of over 50%, with a price target near $1.90 [6]. This projection is derived from the height of the pennant’s pole and aligns with typical price behavior observed in similar formations across other assets [7].

Recent price action supports this technical outlook. Over the past 24 hours, ETHFI rebounded sharply from $1.22 to $1.28, signaling robust buying interest and strengthening momentum. The current price level is now approaching a critical resistance point that coincides with the upper boundary of the pennant. A confirmed breakout above this level would validate the bullish pattern and likely trigger a measured move toward the $1.90 target [8].

The growing strength in ETHFI’s price behavior is also reflected in its on-chain activity. While volume has remained relatively stable—consistent with a consolidation phase—this stability is often observed ahead of significant price moves [9]. The recent surge in buying pressure suggests that market participants are increasingly confident in ETHFI’s upside potential.

Source:

[1] (https://cryptonewsland.com/ethfi-eyes-1-90-breakout-amid-bullish-pennant-and-rising-volume/)