Ethereum is displaying a formation of a rare graphic figure that is attracting the attention of crypto analysts. If this pattern is confirmed, it could trigger a strong bullish movement.
What is the Inverted Head and Shoulders Model?
Currently, Ethereum is forming an inverted head and shoulders (H&S) pattern, which is considered a reversal figure. This pattern appears after a period of consolidation and anticipates a change in direction in the crypto market. In the current configuration, a left shoulder, a lower head, and a right shoulder are clearly visible, with a neckline serving as a key resistance.
Key Levels and Technical Indicators
Several technical indicators support this hypothesis. The Relative Strength Index (RSI) remains in neutral territory, allowing for upward movement without entering overbought territory. Meanwhile, the MACD shows signs of positive convergence, indicating a resurgence in momentum for Ethereum.
Possible Market Scenarios
If the pattern is confirmed, Ethereum will face several resistances. The first significant level is around $2160, followed by $2858. A breakthrough of these levels could propel ETH towards $3360, corresponding to a former major peak. Additionally, the anticipated Pectra update scheduled for May 7, 2025, may further heighten market volatility and positively influence ETH's price.
Investors are closely monitoring this configuration, ready to act in case of a signal confirmation. If the volume supports the break of key resistances, Ethereum could regain sustainable bullish momentum.
