Ethereum confirms daily bull-flag breakout; targets $2,800–$3,000 as momentum turns bullish
first published 2026-05-05T03:30:00Z
ETH gained 7.3% in April and is approaching a resistance zone near $2,375 that has previously rejected moves. A decisive daily close above $2,375 could trigger an approximately 7% breakout toward $2,550; failure risks a pullback to the $2,210 channel support. U.S. spot ETH ETFs saw net $23.5M inflows last week, and exchange supply is at a record-low ~14.5M ETH (down ~1.5M ETH over four months), tightening supply and potentially amplifying any directional move.
AI Analysis
Summary facts: ETH is up 7.3% in April and is testing a documented resistance near $2,375 where a daily close above is projected to target ~$2,550 while failure could return price to $2,210; U.S. spot ETH ETFs had $23.5M net inflows last week and on-exchange supply is ~14.5M ETH, down ~1.5M ETH in four months—factors that tighten supply and can magnify moves.
Expected Investor Sentiment: Bullish
Potential Market Impact: High
