Ethereum price eyes breakout, ETHA ETF nears $5b milestone

WikiBit 2025-06-08 00:28

Ethereum price may be on the verge of a bullish breakout to $4,000 after forming a bullish flag and a golden cross pattern, and as the iShares Ethereum

ETH price chart | Source: crypto.news

The daily chart shows that ETH price surged in May and reached a high of $2,743, which coincided with the 50% Fibonacci Retracement level.

It has now formed a bullish flag pattern, a common bullish continuation sign. This flag pole is about 50% long, and measuring the distance from its breakout zone gives the target price of $4,097. This target coincided with its highest point in 2024.

The other bullish case is that Ethereum price has formed a golden crossover as the 50-day and 200-day Weighted Moving Averages have crossed each other. This crossover often leads to more gains. For example, it happened in November last year, triggering a 35% jump.

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