Ethereum (ETH) is showing a potentially bullish long-term setup after reclaiming its broken ascending triangle structure. The failed breakdown may strengthen buying pressure and support a broader recovery. Meanwhile, rising ETH transfers to Robinhood Chain signal growing Layer-2 adoption, liquidity, and activity across its expanding ecosystem.
As of now, according to CoinMarketCap data, Ethereum is trading at the price of $2,460.83, with a decline of 1.33% in the past 24 hours and a decline of 1.66% over the past week.
Ethereum Price Targets $25,000 as Busted Ascending Triangle Signals Major Rally
According to a prominent crypto analyst, Trader Tardigrade, Ethereum may be preparing for a major long-term rally as its monthly chart forms a potential Busted Ascending Triangle. The pattern has developed over nearly five years, making the current structure an important signal for traders tracking ETH’s broader market trend.
The setup became notable after ETH moved below the triangle’s support, creating what appeared to be a bearish breakdown. However, the decline failed to hold, and Ethereum reversed back into the pattern. This recovery could indicate that the breakdown was a false move rather than the start of deeper weakness.
A Busted Ascending Triangle forms when price breaks below support, traps sellers, and then quickly moves back inside the previous structure. Such failed breakdowns can strengthen buying pressure as bearish traders exit positions. Ethereum’s return to the triangle therefore presents a potentially bullish signal on the monthly timeframe.
If the pattern continues to develop in favor of buyers, the analyst expects Ethereum to begin a strong upside move, with a long-term target of $25,000. While the projection is not guaranteed, continued strength inside the pattern could support the bullish outlook and keep ETH’s larger price target in focus.
ETH Bridged to Robinhood Chain Jumps 150%, Crossing $730M Milestone
The data from Token Terminal further highlighted that Ethereum bridged from Ethereum’s Layer-1 network to Robinhood Chain’s Layer-2 has surged by roughly 150% over the past month, pushing total bridge deposits above $730 million. The sharp increase points to growing ETH movement into Robinhood Chain and rising demand for its Layer-2 infrastructure.
The chart shows bridge deposits accelerating significantly since July, with the pace of growth becoming particularly strong through August and into September. Deposits climbed from relatively low levels in July to more than $700 million, marking a substantial increase in ETH moving from Ethereum’s mainnet to Robinhood Chain.
This rise indicates that more ETH is being transferred to the Layer-2 network, potentially reflecting increasing user activity and interest in accessing applications and services built on Robinhood Chain. The rapid growth in bridged assets also points to expanding liquidity as the network continues to attract capital from Ethereum’s main ecosystem.
With bridged ETH now above $730 million, Robinhood Chain is seeing a notable expansion in assets transferred from Ethereum. If this pace continues, the growing ETH liquidity could strengthen activity across the Layer-2 ecosystem and make the network an increasingly important destination for Ethereum-based capital.
