hi Traders
On the weekly chart, Ethereum (ETH/USDT) appears to be developing a potential inverted Head and Shoulders pattern, which is traditionally viewed as a bullish reversal formation.
Pattern Structure
Left Shoulder: Formed during the earlier corrective phase.
Head: A deeper swing low marking capitulation before recovery.
Right Shoulder: Currently forming, with price pushing back toward the neckline.
Neckline & Breakout Zone
Price is approaching the neckline resistance, which aligns with a multi-year structural level. A confirmed weekly close above this neckline would signal a potential breakout.
Measured Move Target
Using the height of the head relative to the neckline, the projected upside target sits approximately 60% above the breakout level, aligning with the highlighted green target zone on the chart.
Bullish Confirmation
A breakout would be confirmed by:
A strong weekly close above the neckline
Increased volume
Retest of the neckline turning into support (optional but ideal)
Key Notes
The pattern is not confirmed until the neckline breaks.
Weekly patterns carry more reliability but also require patience.
As always, risk management remains essential.
On the weekly chart, Ethereum (ETH/USDT) appears to be developing a potential inverted Head and Shoulders pattern, which is traditionally viewed as a bullish reversal formation.
Pattern Structure
Left Shoulder: Formed during the earlier corrective phase.
Head: A deeper swing low marking capitulation before recovery.
Right Shoulder: Currently forming, with price pushing back toward the neckline.
Neckline & Breakout Zone
Price is approaching the neckline resistance, which aligns with a multi-year structural level. A confirmed weekly close above this neckline would signal a potential breakout.
Measured Move Target
Using the height of the head relative to the neckline, the projected upside target sits approximately 60% above the breakout level, aligning with the highlighted green target zone on the chart.
Bullish Confirmation
A breakout would be confirmed by:
A strong weekly close above the neckline
Increased volume
Retest of the neckline turning into support (optional but ideal)
Key Notes
The pattern is not confirmed until the neckline breaks.
Weekly patterns carry more reliability but also require patience.
As always, risk management remains essential.
💥 Free signals and ideas ➡ t.me/vfinvestment
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.
💥 Free signals and ideas ➡ t.me/vfinvestment
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.