The stock and crypto markets drifted upwards on Tuesday, July 5, after the U.S. published mixed consumer inflation data. Futures tied to the Nasdaq 100 and S&amp;P 500 rose by 160 and 30 points, respectively. Bitcoin (BTC) pared back some…

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Ethereum&#8217;s price action in the past seven days has seen it finally touch the 
$3,000 resistance zone for the first time in months. This interesting move 
comes amid growing institutional attention caused by the massive inflows into 
Spot Ethereum ETFs and Bitcoin’s recent climb to new all-time highs. Ethereum 
has gained over 17% in the past seven days alone, reaching a new local high of 
$3,065. Interestingly, bullish technical structures are starting to emerge 
that could send the ETH price soaring toward new all-time highs. Two analysts 
have now spotted classic bullish setups, both hinting at a significant rally 
on the horizon. Cup And Handle Pattern Points To $4,200 If Breakout Holds The 
first analyst, known as @CryptosBatman on the social media platform X, shared 
a daily candlestick chart of Ethereum, where a pure ‘cup and handle’ pattern 
is visible over the past four months. The pattern, which started in early 
March, shows a rounded bottom that dipped to as low as $1,400, followed by a 
minor consolidation that formed the handle portion. Now, recent price action 
has caused ETH to break out of the neckline around $2,850. A technical 
projection from this neckline points to a 45% move to a price target just 
below $4,200. Related Reading: Ethereum Is Already Outperforming Bitcoin In 
July, Is Altcoin Season Here? According to this analyst, Ethereum&#8217;s breakout 
from the cup and handle pattern has formed in the middle of powerful 
fundamentals. Ethereum is now beginning to outperform Bitcoin in terms of 
short-term returns, and exchange reserves have dropped to an eight-year low. 
These are both fundamental signals of strong holding behavior and reduced 
sell-side pressure. With these metrics aligning with the technical breakout, 
@CryptosBatman believes Ethereum could be next in line to break its all-time 
high, possibly before the end of Q3. Weekly Chart Echoes Previous 42% Rally 
Another crypto market technician, CryptoBullet, expressed a similar sentiment 
on the social media platform X. This analyst referenced Ethereum’s weekly 
candlestick chart to support his outlook. He pointed to the formation of last 
week&#8217;s massive green breakout candle that has pushed the price above a major 
supply-resistance zone around $2,850. This move, as shown in the chart below, 
mirrors the same structure that caused a 42% rally between February and March 
2024, when ETH moved from the $2,900 level up to nearly $4,100 within a matter 
of weeks. Related Reading: Ethereum To Outperform Bitcoin: Buy Before Mid- 
August, Analyst Warns If that price action is replicated in this current 
setup, Ethereum could again be on track to test $4,200 in the next three to 
four weeks. This puts the timeline of a $4,200 price target sometime in August 
2025. The projection is shown with the vertical price range box drawn in the 
chart above, which maps a 42% upside from the breakout zone. Interestingly, 
this projection relies on the $2,800 price level, which previously acted as 
resistance, now flipping to support and preventing any sustained retracements 
below the $2,900 to $2,850 range. At the time of writing, Ethereum is trading 
at $2,980, having reached an intraday high of $3,074. Featured image from 
iStock, chart from Tradingview.com

Ethereum Forms ‘Pure Cup And Handle’ Pattern After Hitting $3,000, Analysts Set New Targets

Aave has surpassed $50 billion in crypto deposits, becoming the first DeFi 
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Ether reclaims $3,000 and breaks key technical levels, setting the stage for a 
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Sequans Communications has acquired 683 BTC, bringing its total holdings to 
1,053 BTC worth approximately $120 million. The move reinforces the company’s 
commitment to bitcoin as a core treasury asset. Semiconductor Firm Sequans 
Deepens Bitcoin Strategy With 683 BTC Buy Sequans Communications S.A. (NYSE: 
SQNS), a leader in cellular IoT semiconductor technology, has deepened its […]