ETH/USD Inverse Head and Shoulders Breakout Targeting \$2,883

ETH/USD Inverse Head and Shoulders Breakout Analysis

The 4-hour ETH/USD chart shows a clear inverse head and shoulders pattern, which is a classic bullish reversal setup. The left shoulder, head, and right shoulder are well-formed, and the neckline has been broken with strong bullish momentum, supported by a spike in volume—confirming the breakout.

After the breakout above the neckline, Ethereum surged past the 2,559 level and is currently consolidating above that zone, indicating a possible retest of the neckline as new support.

Key Levels:

1st Target: 2,680 – This level is aligned with a previous resistance zone and the measured move from the neckline to the head.
2nd Target: 2,883 – This is the full projection from the neckline breakout and represents a significant resistance area from past price action.

As long as ETH holds above the neckline support around 2,500–2,540, the bullish structure remains valid. A break back below that zone with high volume could invalidate the pattern and open the door for downside risk.


Conclusion:
This well-formed inverse head and shoulders, followed by a strong breakout with volume, suggests a bullish trend reversal is underway. The pattern targets are:

1st Target: $2,680 – Close to the previous peak before the right shoulder.

2nd Target: $2,883 – Measured move target from head to neckline projected upward.

As long as ETH stays above the neckline, bullish momentum is expected to continue.