Crypto Analyst Sets $7,000 Target For Ethereum Price — Here’s How

Quick Summary:

The inverse version of the head-and-shoulders pattern is a technical analysis formation marked by three distinct price troughs, including a lower "head” set between two higher "shoulders.” While the head-and-shoulders pattern often signals a potential bearish reversal, the inverse pattern indicates a possible bullish breakout.

Related Reading: Bitcoin Price Signals Strength: Bulls Prepare for the Next Leg Up This projection is based on the formation of the inverse head-and-shoulder pattern on the daily Ethereum price chart.

While several other altcoins have fairly shone in the current bull cycle, the Ethereum price has often struggled to live up to its reputation as the "king of altcoins.” Since losing the $4,000 level last year, ETH has not shown any real promise of reaching its all-time high price.

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Article Details

Author / Journalist: Opeyemi Sule

Category: Crypto

Markets: United KingdomOman

Topics: Ali Martinez Eth price Ethereum ETHUSDT ETH Ethereum price Ethereum

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-18 @ 12:30:57 (19 hours ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 414 words

Reading Time: 3 minutes read

Sentences: 62 lines

Sentence Length: 7 words per sentence (average)

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Copyright Owner: © NewsBTC

News ID: 25235318

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