Ethereum News: Ethereum Whale Bets $11M on Bull Flag Breakout as ETH Eyes 30% Rally to $3,670

Key Points:Whale opens $11.15 million ETH long with 25x leverage at $2,758.ETH price rises to $2,850, pushing unrealized profit to $366,000.Options market shows bullish skew as traders bet on near-term upside.Bull flag breakout pattern targets a 30% ETH rally to $3,670.A high-leverage Ethereum long trade signals mounting bullish sentiment as ETH price breaks out of a key technical pattern, potentially setting the stage for a 30% rally toward $3,670 by the end of June.$11M ETH Long Trade Fuels Bullish OutlookOn June 10, a crypto whale opened a $11.15 million long position on Ethereum using 25x leverage, entering at an average price of $2,758.35. The leveraged position totals 4,000 ETH, with a liquidation price of $2,466, suggesting strong conviction in short-term upside despite a narrow risk margin.As Ethereum price climbed to $2,850 on June 11, driven by optimism over a possible Fed rate cut, the whale's trade entered $366,000 in paper profit, according to onchain tracking.Ethereum Options Skew Turns Sharply BullishEthereum’s options market is showing signs of growing trader confidence. The 25-delta skew—a metric reflecting demand for bullish vs. bearish options—has shifted further into negative territory, indicating increased appetite for call options.1-week skew: Dropped from -2.4% to -7.0%1-month skew: Declined from -5.6% to -6.1%This steep drop reflects short-term bullish positioning, suggesting that traders expect additional ETH upside in the coming days.ETH Breaks Bull Flag, Targets 30% Rally to $3,670Ethereum’s price structure shows a clear breakout from a bull flag pattern, a continuation formation that typically signals further upside. The move follows a 100% recovery from April lows, fueled by the Pectra upgrade and Ethereum Foundation restructuring.Technical projections based on the pattern indicate a 30% rally toward $3,670, aligning with bullish sentiment from both leveraged whales and options traders.Broader ETH Price Forecasts: $4K and Beyond?Analysts remain upbeat about Ethereum’s mid-term potential:Standard Chartered expects ETH to reclaim $4,000 in 2025.Fractal models comparing ETH to historical gold price movements suggest possible targets of $5,000 to $6,000 in the next major cycle.With improving network fundamentals, rising institutional interest, and favorable macro trends, Ethereum’s momentum appears to be building for a sustained breakout—if bulls can maintain control above the $2,850 level, according to Cointelegraph.