Ethereum has been holding steady within the $3,600-$3,800 range, showing resilience despite the recent market pullback. Such a consolidation phase can be the calm before the big thing. happenas the pattern on the chart suggests a possible formation ahead of a rally that could push ETH towards all-time highs.
Possibility of right shoulder formation indicates structural strength
Crypto analyst MarketMaestro provided detailed technical information update Note that in ETH, the asset has recently suffered significant damage rejection At the neckline resistance. Following this failure, the price is now in an important retest stage at the red diagonal resistance level that it crossed earlier. The success of the ETH market in maintaining this diagonal is essential to avoid completely losing the bullish momentum built in previous moves.
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of analyst Furthermore, he pointed out that the current price movement suggests that ETH may be forming a right shoulder in this region. This structural development is very important because the right shoulder works together to complete two major very bullish chart patterns.
This is the last component needed to create a handle in a cup-and-handle pattern while forming a larger reverse head-and-shoulders (reverse H&S) pattern. Forming both an inverse H&S and a cup and handle in the same area at the same time is extremely rare and powerful, and indicates that the market is gearing up for a very bullish formation for the next quarter.
Considering this classically powerful fusion; Reversal Market Maestro views this entire consolidation phase not as weakness, but as a logical pre-upset setup, given the continuation pattern and the movement of the broader market indexes. He concludes with high confidence that the “pain threshold”, or maximum expected downside risk, is likely not very high.
Bullish bias will remain as long as support remains solid
Recently update, Analyst Crypto Candy pointed out that despite the recent market movements, the ETH scenario remains largely unchanged. The key takeaway from the analysis is that assets show significant effects. resilience By holding the key support zone strongly between $3,600 and $3,800.
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The analyst reiterated the importance of this particular range, stressing that as long as the $3,600-$3,800 zone holds well, the medium-term bullish outlook remains firmly in place. This suggests that buyers are actively defending this level and preventing a deeper correction from continuing.
Given the strength shown here, support levelCrypto Candy maintains a solid price prediction: the market is expected to target $4,700 and could reach a new ATH. The analyst concludes that this bullish bias will remain in place until the price breaks out of the $3,600-$3,800 support zone.
