Ethereum (ETHUSD) has successfully breached the neckline of the inverted head and shoulders pattern visible on the chart. This breakout activates the bullish effect of the pattern, setting the stage for a continued rise in the upcoming sessions. The primary targets are $3,641.82 and $3,890.00.
As a result, the bullish trend is expected to remain valid and active. However, if the price fails to hold above $3,505.00, it might revisit the $3,360.31 area before making another attempt to rise.
Today’s expected trading range is between $3,400.00 for support and $3,670.00 for resistance.
Trend Forecast: Bullish
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