Ethereum Bullish Pattern Points To Immediate $3,000 Target – Details

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Ethereum Bullish Pattern Points To Immediate $3,000 Target – Details - NewsBTC

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Related Reading: Ethereum Net Flows Turn Negative As Bulls Push For $3,500 Potential ETH Breakout Pattern Hints At $3,000 Mark – Analyst In an X post on May 24, Ted Pillows shares that Ethereum’s price movement is forming an inverse head-and-shoulders pattern on the 12-hour daily trading chart, suggesting the altcoin may be due for a price breakout in the coming days.

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. Interestingly, popular crypto analyst Ted Pillows has tipped Ethereum to maintain this positive performance based on a bullish chart 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. 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.