Ethereum Climbs to New High as Bullish Pennant Formation Builds Momentum

Ethereum has surged past $4,200, marking a 7% daily increase, indicating robust bullish activity driven by increased trading volume. This upward trend is further supported by the formation of a bullish pennant pattern on the 3-day chart, suggesting continued growth towards the $6,000 region. Analysts attribute this momentum to expanding DeFi applications and growing institutional interest.