ETH/USD Inverse Head and Shoulders Breakout Analysis
The 4-hour ETH/USD chart shows a clear inverse head and shoulders pattern, which is a classic bullish reversal setup. The left shoulder, head, and right shoulder are well-formed, and the neckline has been broken with strong bullish momentum, supported by a spike in volume—confirming the breakout.
After the breakout above the neckline, Ethereum surged past the 2,559 level and is currently consolidating above that zone, indicating a possible retest of the neckline as new support.
Key Levels:
1st Target: 2,680 – This level is aligned with a previous resistance zone and the measured move from the neckline to the head.
2nd Target: 2,883 – This is the full projection from the neckline breakout and represents a significant resistance area from past price action.
As long as ETH holds above the neckline support around 2,500–2,540, the bullish structure remains valid. A break back below that zone with high volume could invalidate the pattern and open the door for downside risk.
Conclusion:
This well-formed inverse head and shoulders, followed by a strong breakout with volume, suggests a bullish trend reversal is underway. The pattern targets are:
1st Target: $2,680 – Close to the previous peak before the right shoulder.
2nd Target: $2,883 – Measured move target from head to neckline projected upward.
As long as ETH stays above the neckline, bullish momentum is expected to continue.
The 4-hour ETH/USD chart shows a clear inverse head and shoulders pattern, which is a classic bullish reversal setup. The left shoulder, head, and right shoulder are well-formed, and the neckline has been broken with strong bullish momentum, supported by a spike in volume—confirming the breakout.
After the breakout above the neckline, Ethereum surged past the 2,559 level and is currently consolidating above that zone, indicating a possible retest of the neckline as new support.
Key Levels:
1st Target: 2,680 – This level is aligned with a previous resistance zone and the measured move from the neckline to the head.
2nd Target: 2,883 – This is the full projection from the neckline breakout and represents a significant resistance area from past price action.
As long as ETH holds above the neckline support around 2,500–2,540, the bullish structure remains valid. A break back below that zone with high volume could invalidate the pattern and open the door for downside risk.
Conclusion:
This well-formed inverse head and shoulders, followed by a strong breakout with volume, suggests a bullish trend reversal is underway. The pattern targets are:
1st Target: $2,680 – Close to the previous peak before the right shoulder.
2nd Target: $2,883 – Measured move target from head to neckline projected upward.
As long as ETH stays above the neckline, bullish momentum is expected to continue.
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🟡 TELEGRAM CHANNEL:
Free Signals With Technical Chart:
t.me/+JLFlD0eg3LFjNjU8
📞TELEGRAM ME
@t.me/daniel9145
Free Signals With Technical Chart:
t.me/+JLFlD0eg3LFjNjU8
📞TELEGRAM ME
@t.me/daniel9145
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.