Ethereum Price Could Go Parabolic With This Bullish Pattern – Should You Be Buying ETH Now?
A move such as this would serve as confirmation that ETH is finally ready to extend its leg above $2,000 and close the gap to $3,000. advertisement Can Ethereum Price Tag $2,000 This Week? Ethereum price is on the verge of validating a substantial breakout, with the possibility of propelling it above $2,000 before the weekend. An inverse head and shoulders (H&S) pattern, which completed its formation at the end of June, may trigger a 15.5% move to $2,200. The inverse H&S is often seen as a strong bullish indicator. It is characterized by three distinct troughs, with the deepest one forming the ‘head’ and the two higher ones forming the ‘shoulders.’ The pattern signifies a potential reversal in a downtrend, as observed with Ethereum price on the four-hour chart. Traders who accurately recognize this pattern strategically place buy orders above the pattern’s ‘neckline’ – which currently holds at $1,920 for E...