Ethereum futures are showing renewed bullish momentum, but the next major move depends on one clear test.

On the 4-hour chart, price remains inside a large purple channel that has guided the downtrend since late September. A decisive breakout above the channel’s upper boundary, near $3,900 on futures, would be the signal that bullish continuation is back in play.

The yellow zone reflects a possible secondary channel, a short-term structure that may guide near-term movement but is less important than the main purple one. The red question mark simply illustrates one possible path if buyers manage to push through resistance.

So, what’s (possibly) next for Ethereum? The real confirmation will come from sustained closes above $3,900. Until then, Ethereum remains in a watch-and-wait phase within the larger channel.

Oh, and what the heck is a bull flag? It’s something like this in technical analysis, and the bigger the timeframe, the more reliable it is.

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