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Ethereum (ETH) It shows signs of a stubborn breakthrough, creating a elaborate template of the opposite head and shoulder (IH & s) in a weekly time frame. This key technical formation suggests that the price of Ethereum is on the right track to Huge rally In the direction of a stubborn goal of USD 18,000.
Ethereum creates the opposite pattern of the head and shoulders
The price of ethereum was in Long consolidation periodexperiencing a disaster among the ongoing market riots. Despite the recording Huge declines which significantly raised its value below the highest all time, analyst Crypto Gert Van Lagen on X (previously Twitter) predicts that ETH can still reach the target price of USD 18,000.
In particular, Ethereum recently reflected from USD 1800 – USD 2000, which previously served as resistance during the “main” phase of the IH & S pattern. After this key repetition was confirmed, ETH may enter the last stage of reversal, established to fresh ups of all time.
LaGen, a stubborn goal in the amount of USD 18,000 is the current price of Ethereum over 8 times, emphasizing the size of this projection. LaGen identified the creation of the IH & S structure on the Ethereum chart, supporting him ambitious forecast With this known pattern of stubborn charts.
. The opposite head and arm It is a classic stubborn reversal structure, often signaling the end and the beginning of a sturdy and fresh march. Taking into account The price of Ethereum was in the pursuitThe formation of the IH & S chart pattern suggests that this prolonged decrease may finally end.
On the chart, the left arm of the IH & S structure began to form from 2021 to 2022, experiencing prices before withdrawal. In the years 2022–2023 there was a deeper decline, meaning a low cycle and creating a “head”. Finally, in the years 2024–2024 the right arm of the technical pattern was created, registering a higher level, which equalized with his left arm.
The LaGen price chart emphasizes that the most crucial level to watch is the IH & S structure neckline, which is around USD 3,978 and acts as basic resistance area.
How possible ETH’s goal in the amount of USD 18,000
Still looking at Lagen Ethereum price chartThe analyst suggests that if ETH can exceed the resistance level of $ 3,978 with a sturdy volume, it can confirm the opposite head and shoulder pattern and open the door to the rally in the direction of USD 18,000. And vice versa, if Ethereum does not break above this level of resistance, prolonged consolidation or Significant withdrawal It may occur before another breakthrough attempt.
LaGen predicts that rejection in the resistance area may cause a decrease in the price of Ethereum to USD 1,888 An crucial level of support which can prevent further decline. The decrease in this support would be a potential 52% immersion in relation to the main resistance level and a decrease of 8.52% compared to the current market value of ETH of USD 2,055.
A distinguished picture from Unsplash, tradingview.com chart
