Ethereum Monthly Chart Forms Bullish Pennant As Traders Eye $5,000 Inflection Zone

Ethereum is trading slightly above $3,300 per ETH after a gradual upside move, with its monthly chart now showing a bullish pennant pattern. A technical roadmap from Merlijn The Trader outlines potential upside levels at $3,600 and the prior all‑time high near $5,000, with further projections extending toward $6,000 and $8,400 if the breakout unfolds. The analysis suggests consolidation inside the pennant could transition into a volatile but ultimately upward expansion phase.