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Ethereum Surges to $2,792 as Falling Wedge and Inverse Head-and-Shoulders Patterns Signal Path to $4,200.

Ethereum’s price action broke through critical chart resistance, completing multiple bullish technical patterns on the daily chart.The cryptocurrency increased by 6.54 percent over a 24-hour period to hit a mark of $2,792.66. It was preceded by a falling wedge pattern and an inverse head-and-shoulders pattern, which are viewed by technical traders as bullish patterns. Notably, the price is now approaching the first target near $3,200. A higher target, placed above $4,200, remains in play on the chart.

The rise in Ethereum’s price was accompanied by a substantial increase in market activity. The 24-hour volume jumped by 64.87% to $30.22 billion. The market value of Ethereum also increased by 6.55% to reach 337.12 billion dollars. This expansion in volume and market cap further confirmed the price movement’s strength.

Following this setup, Ethereum broke above the neckline of the head-and-shoulders, triggering the breakout currently underway. Chart targets for this pattern suggest the first price level to watch is near $3,200. Additionally, the second target extends above $4,200, based on the measured move projections.

The breakout reflects a transition from a consolidation phase to a directional move. However, the price remains below the projected targets, leaving open the next stages of this trend.

Falling Wedge and Inverse Head-and-Shoulders Breakouts Align

The falling wedge pattern, which began earlier this year, resolved with an upside breakout in April. Ethereum’s price then formed an inverse head-and-shoulders pattern, with the right shoulder completing.

Following this setup, Ethereum broke above the neckline of the head-and-shoulders, triggering the breakout currently underway. Chart targets for this pattern suggest the first price level to watch is near $3,200. Additionally, the second target extends above $4,200,#ShariaEarn #Write2Earn #TrumpTariffs #BinanceTurns8 $ETH