Ethereum Price Set for Breakout? Key Indicators Point to $3,600 Target
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On the daily chart, Ethereum price is forming a classic bull flag, a continuation pattern that typically follows a strong upward movement. After surging from $1,900 to $2,730, ETH is now consolidating between $2,400 and $2,750. A breakout above $2,600 could push prices toward the $3,600 target, calculated by adding the flagpole height to the breakout point. However, the immediate resistance zone between $3,000 and $3,100 must be cleared first.
A notable technical signal is ETH’s attempt to reclaim the midline of the Gaussian Channel on the two-week chart. Historically, crossing this midline has triggered major rallies, such as a 93% surge in 2023 and a massive 1,820% increase in 2020. Additionally, a golden cross between the 50-day and 200-day simple moving averages (SMA) adds further bullish confirmation. Although the current cross appears on the 12-hour chart—which is less reliable than the daily—it still reflects growing momentum.
Despite bullish signals, Ethereum faces the risk of short-term correction. Some traders point out ETH is struggling to break above the $2,800 level. If this resistance holds, the market may enter a prolonged sideways range or decline toward the support zones at $2,150 and $1,900. Furthermore, ETH recently retested the 0.5–0.618 Fibonacci levels, which may reinforce selling pressure in the near term.
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