Alex Dudov
⬤ Ethereum is currently trading inside a textbook bull pennant on the two-month chart, right after a powerful impulse move that kicked off the broader trend. The chart shows ETH shifting from a vertical rally into a tightening triangle, where price swings are getting smaller with each bounce. The pennant structure is now locked in, and the support retest has already played out successfully.
⬤ The chart layout shows a strong leg up followed by consolidation between a descending resistance line and a rising support line. This setup signals a breather in momentum rather than any change in direction. Price has been bouncing cleanly between both boundaries—buyers are stepping in at higher lows while sellers cap rallies near the top trendline. The completed retest confirms the pattern is holding strong on the macro timeframe.
⬤ Current consolidation is sitting well above price levels from previous cycles, highlighting how elevated Ethereum's position is right now. There's been no breakdown inside the pennant, which suggests the market is digesting recent gains instead of dumping. The shrinking volatility inside this range fits perfectly with higher-timeframe continuation patterns, where long consolidations typically follow explosive moves.
⬤ This matters because Ethereum often leads sentiment shifts across the entire crypto market. Holding this bull pennant keeps the uptrend alive and supports a healthy outlook for digital assets overall. If ETH stays inside this structure, it signals stability at macro levels and keeps expectations high for continuation once the consolidation wraps up—shaping both medium-term sentiment and volatility across the board.
Alex Dudov
