ETHUSDT might be forming an Inverse Head & Shoulders on the 4H chart.• A right shoulder around ~$2400 would complete the pattern
• Confirmation comes with a breakout above the $2730 neckline
• Measured move target: ~$3130
Keep an eye on ~$2800 – it's a key daily/weekly S/R that could provide strong resistance and possibly stall the breakout.
In a No-Trade Zone until either a bounce from $2400 or a break above $2730.
Note
ETH might be front-running the right shoulder, forming an asymmetrical IH&S.A break above $2730 with volume would still confirm the pattern and activate the ~$3130 target.
Definitely worth watching closely.
Trade active
Neckline breakout confirmed, target activated.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.