NewsBTC

26 March 2025

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Ethereum Forms Inverse Head and Shoulder Pattern with $18,000 Target

Ethereum (ETH) is forming a bullish Inverse Head and Shoulder (iH&S) pattern on the weekly chart, indicating potential for significant price movement. Key points include:

• The iH&S pattern suggests a target price of $18,000.
• ETH recently bounced off the $1,800 - $2,000 support range, which was previously resistance.
• This bounce may indicate the end of a prolonged downtrend.
• For the bullish scenario to hold, ETH must break the neckline resistance at approximately $3,978 with strong volume.
• A failure to surpass this level could lead to consolidation or a drop to $1,888, a critical support level.

The iH&S pattern has been developing since 2021, with the current structure suggesting a potential reversal in trend. If successful, the projection could represent an over 8x increase from current levels around $2,055.