{"id":69020,"date":"2025-05-25T19:00:36","date_gmt":"2025-05-25T19:00:36","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=69020"},"modified":"2025-05-25T19:00:36","modified_gmt":"2025-05-25T19:00:36","slug":"ethereum-bullish-pattern-points-to-immediate-3000-target-details","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=69020","title":{"rendered":"Ethereum Bullish Pattern Points To Immediate $3,000 Target \u2013 Details"},"content":{"rendered":"

The Ethereum market price rose by a net 3.16% in what proved to be another historic week for the crypto market as Bitcoin registered a new all-time high price<\/a>. Notably, the prominent altcoin has largely benefited from the general market resurgence in the past month, resulting in a 44.69% price increase over this period.\u00a0<\/p>\n

Interestingly, popular crypto analyst Ted Pillows has tipped Ethereum to maintain this positive performance based on a bullish chart pattern.\n<\/p>\n

Related Reading: Ethereum Net Flows Turn Negative As Bulls Push For $3,500<\/a><\/p>\n

Potential ETH Breakout Pattern Hints At $3,000 Mark \u2013 Analyst<\/strong><\/h2>\n

In an X post<\/a> on May 24, Ted Pillows shares that Ethereum\u2019s price movement is forming an inverse head-and-shoulders pattern<\/a> on the 12-hour daily trading chart, suggesting the altcoin may be due for a price breakout in the coming days. The inverse head-and-shoulders pattern is one of the classic bullish reversal patterns,\u00a0signaling a potential change from a downtrend to an uptrend.<\/p>\n

Based on the Tradingview chart presented by Pillows, the left shoulder of this bullish formation of this bullish inverse head-and-shoulders pattern formed in February, when ETH sharply declined to around $2,000 before rebounding and entering a range-bound phase that persisted through the month.<\/p>\n

In the following months, ETH would register deeper price falls to trade as low as $1,400 in early April to form the head of this pattern. Since then, altcoin has staged a strong recovery, climbing to around $2,700, before entering another consolidation phase that now forms the right shoulder of the pattern.<\/p>\n

According to Ted Pillows\u2019 analysis, the $2,700 price mark<\/a> represents the neckline of this inverse head and shoulders pattern. ETH bulls must achieve a decisive close above this resistance level to confirm any potential break, a task that has proven tough following two successive rejections in the past few weeks.\u00a0<\/p>\n

However, if Ethereum convincingly breaks out above $2,700, Pillows backs the altcoin to swiftly reach the $3,000 price mark, indicating a potential 17.4% on the current market price.\n<\/p>\n

Ethereum Market Overview<\/strong><\/h2>\n

At the time of writing, Ethereum is trading at $2,500 after a 0.34% gain in the past day. Meanwhile, the asset\u2019s daily trading volume is down by 58.22% and valued at $12.35 billion.\u00a0<\/p>\n

According to on-chain analytics firm Sentora<\/a>, the Ethereum blockchain also recorded a 23.9% decline in network fees over the past indicating a decline in transactions and general network use.\u00a0 Meanwhile, $74 million in ETH were deposited in exchanges, representing the first inflows in over four months. Nevertheless, Ethereum\u2019s price has shown much resilience with no significant decline in response.<\/p>","protected":false},"excerpt":{"rendered":"

The Ethereum market price rose by a net 3.16% in what proved to be another historic week for the crypto market as Bitcoin registered a new all-time high price. Notably, the prominent altcoin has largely benefited from the general market resurgence in the past month, resulting in a 44.69% price increase over this period.\u00a0 Interestingly, […]<\/p>\n","protected":false},"author":0,"featured_media":69021,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-69020","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/69020"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=69020"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/69020\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/69021"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=69020"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=69020"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=69020"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}