Falling Wedge Pattern Signals $3,000 Target
By: bitcoin ethereum news|2025/05/10 17:15:05
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Ethereum price prodded above the $2,400 level on Friday, posting another 6% gains as Pectra upgrade success continues to attract fresh ETH investment inflows. In latest news reports, Brazil-based B3 exchange moves to launch SOL and ETH futures by June 16. Will this propel ETH toward the $3,000 level? Ethereum (ETH) Moves Above $2,400 for the First Time Since January Ethereum (ETH) price advanced as high as $2,448 during Friday’s trading session, its strongest showing since January 2025. Market data from Coingecko showed a 6.7% 24-hour increase, with Ethereum outperforming Bitcoin on several major spot exchanges. At press time, ETH finds support at $2,349, up over 40.9% in the past 30 days and 27.5% over the last week, signaling strong short-term momentum. The ETH/BTC pair also gained ground, rising 6.7% to 0.02283 BTC. Ethereum price surged above the $2,400 threshold on Friday, notching a 6.7% daily gain and reaching its highest level in four months. The rally comes amid growing investor optimism after the recent Pectra upgrade and ignited institutional interest in BTC after months of underperforming. Adding to bullish sentiment, Brazil’s largest stock exchange, has confirmed plans to launch Ethereum and Solana (SOL) futures contracts by June 16. Brazil’s B3 Exchange to Launch ETH and SOL Futures by June 16 Brazil’s B3 exchange, the largest in Latin America, announced it will list Ethereum (ETH) and Solana (SOL) futures by mid-June. The move marks a major expansion of crypto derivatives in the region and could serve as a blueprint for other Latin American financial hubs. The B3 futures contracts will be cash-settled and follow similar specifications to CME’s ETH derivatives. By enabling local funds and high-net-worth investors to gain regulated exposure to ETH action, the exchange aims to capture rising institutional demand within the Latin America region. The ETH price rally also aligns with improving macro sentiment, as U.S. rate cut expectations and rising stablecoin supply across Ethereum DeFi protocols point toward steady inflows. Ethereum Price Forecast Today: Falling Wedge Pattern Signals $3,000 Target Ethereum price forecast today signals a falling wedge pattern hinting at a potential breakout above $3,000. After closing two consecutive sessions above both the 50-day EMA at $1,901 and the 100-day EMA at $2,123, Ethereum price has now breached the wedge’s upper resistance with a convincing high-volume rally. This move confirms bullish momentum, supported by the significant volume spike visible in the delta histogram, indicating institutional interest and strong accumulation at breakout levels. If ETH holds the $2,120 zone over the weekend, another leg-up towards $2,500 remains probable, particularly if risk-on sentiment holds across global financial markets as observed in the past week. Conversely, if ETH price retreats, below $2,100 accompanied by high volume sell-orders, it could invalidate the bullish thesis and potential open doors to deeper correction towards the next key support level at $1,950. Frequently Asked Questions (FAQs) Ethereum’s price surge is fueled by the Pectra upgrade, improving market sentiment, and institutional momentum following Brazil’s ETH futures announcement. The falling wedge breakout signals a bullish reversal, with technical indicators pointing to a possible move toward the $3,000 level in the near term. Rising institutional demand, seen in high-volume accumulation and upcoming regulated futures in Brazil, is reinforcing Ethereum’s price strength. ✓ Share: ibrahim Crypto analyst covering derivatives markets, macro trends, technical analysis, and DeFi. His works feature in-depth market insights, price forecasts, and institutional-grade research on digital assets. Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss. Source: https://coingape.com/markets/ethereum-price-eyes-another-200-rally-as-brazilian-exchange-launches-eth-and-sol-futures/
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