Ethereum is currently forming a bull flag on its daily chart, potentially leading to a breakout above $3,600 if certain conditions hold. The price has been consolidating between $2,400 and $2,750, with a bullish breakout above $2,600 targeting $3,600. This pattern follows a recent rise from $1,900 to $2,730. A significant trend shift occurred as Ether aimed to reclaim the mid-line of the 2-week Gaussian Channel, which historically precedes major rallies. In the past, ETH saw impressive gains following similar trends, such as a 93% increase to $4,000 in 2023. However, caution is advised as not all crossovers result in bullish movements; past corrections demonstrate the risks involved. Analysts indicate that a consolidation period may occur if Ethereum fails to break above $2,800, suggesting potential short-term corrections with support levels around $2,150 and $1,900.

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