Ethereum (ETH) is showing signs of a potential bullish rally, with technical indicators pointing towards an Inverse Head and Shoulders (H&S) pattern forming. If confirmed, this pattern could signal a significant upward move in the coming months, with a target of $7,400 in sight. However, Ethereum's current price is at $3,223, reflecting a decline of 1.96% in the daily trading and nearly 3% drop in the weekly performance, indicating market uncertainty. The key resistance level to watch is at $4,000, and a breakout above this level with substantial trading volume could validate the bullish pattern. The Fibonacci extension points to a target of $7,442, further supporting the potential for gains. Ethereum has been trading within an upward channel since early 2023, strengthening its bullish momentum. Additionally, a long-term investor has identified two bullish patterns, the inverse H&S and the ascending triangle, on the weekly chart. AI models forecast a near-term target of $3,750 for Ethereum by the end of Q1 2025, assuming continued market activity and strong demand. However, investor sentiment has shifted towards altcoins and meme coins, with Ethereum lagging behind in capturing the market's enthusiasm.



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