Ethereum price confirms bullish breakout as on-chain metrics support more upside

Ethereum price has broken out of a symmetrical triangle pattern, suggesting the token could be poised for a strong upside in the coming days.

Renewed demand from institutional investors and bullish on-chain metrics have added another layer of optimism for the token.

According to data from CoinGecko, Ethereum (ETH) price was exchanging hands at $3,357 at press time

The largest altcoin with a market cap of $405.2 billion when writing had rallied nearly 7.9% over the past week and 21% from its December low.

Ethereum price rallied as investor sentiment around the token turned bullish after it formed a bullish setup on charts.

Strong growth in its ecosystem and bullish on-chain metrics have also attracted investor attention.

Per data from SoSoValue, spot Ethereum ETFs drew in $310 million in net inflows so far this week, marking their highest weekly inflows recorded since December.

This renewed demand from institutional investors will not be lost on retail eyes, who often interpret these allocations as a signal to re-enter the market or solidify their long-term conviction.

The total number of daily active addresses on the Ethereum blockchain has bumped nearly 40% over the past week

Ethereum daily active addresses. Source: Nansen

Large-scale accumulation by corporate treasuries like BitMine and a record level of staked ETH have also lowered the amount of tokens circulating freely in the open market and thereby have reduced selling pressure across the ecosystem.

At press time, nearly 36 million ETH or 30% of the total circulating supply was locked in the Beacon Chain deposit contract.

From a macroeconomic standpoint, the latest reading from US CPI data, which came out slightly cooler than expected, has also boosted the odds of the Fed cutting rates over the coming months

Ethereum and other major cryptocurrencies have historically rallied when the Fed’s stance took a dovish pivot, as lower interest rates generally increase global liquidity and drive investors toward higher-growth risk assets.

Ethereum price analysis

On the daily chart, the Ethereum price has confirmed a bullish breakout from a symmetrical triangle pattern

TradingViewWhen an asset breaks out from the upper trendline of such a pattern, as ETH did, it is usually followed by a sharp rally, which is usually calculated by measuring the height of the largest swings recorded within the formation.

Calculating the distance from the initial support to the peak of the triangle, that puts the target at $4,288, a level that aligns with the highs seen in October 2025

At press time, the target is nearly 27% above the current ETH price of approximately $3,357.

The projected move would represent a significant recovery of the value lost during the late-year consolidation phase.

A bullish double bottom pattern was also observed on the chart as technical indicators like the MACD and Supertrend confirmed the bullish bias for the asset

This classic reversal formation suggests that the price has successfully tested and established a firm floor, providing the momentum needed for a sustained move higher.

The MACD has recently completed a bullish crossover below the zero line, while the Supertrend indicator has flipped green to signal a shift in the prevailing market trend

These combined technical signals reinforce the growing confidence among traders that the recent consolidation phase has concluded and a fresh leg of the rally is now underway.

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