Ethereum (ETH) is showing promising signs of a potential upward move after forming a classic inverse head and shoulders pattern on the 15-minute timeframe. This well-known technical setup, made up of three price troughs — with the middle one (the head) being the deepest — often points to a bullish reversal when confirmed by a neckline breakout. At the moment, ETH is trading at $2,662.21, marking a 4.36% increase from its previous session close. The asset has touched an intraday high of $2,668.35 and a low of $2,526.56 so far today. The formation of an inverse head and shoulders pattern is typically viewed as a bullish signal in technical analysis, hinting at a possible end to the recent downtrend. If Ethereum can continue trading above the $2,645 breakout level and hold firm during a possible pullback to the $2,620–$2,640 range, it could validate this pattern and trigger a move toward the $2,730–$2,750 target zone.
Traders keeping an eye on short-term price action may consider these levels critical for confirming Ethereum’s next move.
While this pattern offers a historically reliable signal, crypto markets remain highly volatile. It’s always wise to pair technical setups with broader market analysis and apply sound risk management practices.
Note: This market update is intended for informational purposes only and should not be taken as financial advice. Always conduct your own research before making trading decisions.
