Ethereum price is gaining traction with strong on-chain activity and market momentum. A potential head-and-shoulders pattern signals bullish growth, while ETF inflows hit record levels. Recent whale transactions also show confidence in Ethereum’s potential for further price gains.
Ethereum’s Bullish Technical Pattern
The Ethereum price exhibits a textbook type of head and shoulders pattern forming, taken as a sign of a vital bullish indicator.
Looking at Ethereum’s historical data, in mid-April Ethereum consolidated in between $2,800 for 37 days before making a major move higher.
According to Ali, at this moment we’re starting to see another similar consolidation pattern form, which suggests that the right shoulder is forming, hinting at a possible bullish continuation.
Source: x
Ethereum is finally reinforcing strong upward momentum, with Ethereum holding above $3,400 as it continues.
Traders may be looking to take profit at $3,700, given that this is our next
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