🚀 Ethereum (ETH) Poised for Another Rally to $2,900? Key Patterns Suggest Breakout Imminent!
➡️ Since May 9 , Ethereum has been consolidating within a defined range, showing signs of accumulation before its next major move. Now, two critical technical patterns are emerging:
🔵 1.Falling Wedge (Bullish Reversal) – A classic breakout signal, often preceding sharp upward moves. ETH is tightening within this wedge, indicating weakening selling pressure and a potential bullish reversal .
🔵 2. Inverse Head & Shoulders– A reliable trend-reversal pattern forming on the lower timeframes. A breakout above the neckline could confirm the uptrend and trigger a rally toward $2,900 .
🔑 Why $2,590 is the Key Level
✅️ Resistance Flip : A daily close above $2,590 (previous resistance) would signal strength, aligning with the Falling Wedge breakout and Inverse H&S confirmation .
✅️ Bullish Momentum : ETH has already gained 17% in the past week, and whales are accumulating, with 1M ETH withdrawn from exchanges last month—a strong bullish signal .
✅️ Mid-Term Targets : A breakout could propel ETH toward $2,878 (TP1) and extend to $2,900–$3,000 if buying volume surges .
⚠️ Caution Ahead
- While the setup looks promising, a failure to hold $2,360 could invalidate the bullish structure, leading to a retest of $2,150–$2,200 .
🔥 Final Thought : ETH is at a make-or-break zone. If the Falling Wedge and Inverse H&S play out, $2,900 is the next stop! 🚀
❔️What’s your take? Bullish or expecting a deeper correction?
