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The Ethereum price has been bearish all weekend. However, this price sell-off might be coming to an end soon!
Right now, we are seeing a key bullish reversal pattern form in the ETH 15 minutes timeframe. The pattern we are talking about is the Inverse Head and Shoulders Pattern.
It’s a high-quality reversal pattern and it might be a great indicator to confirm the possible price rally coming for Ethereum.
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Ethereum Inverse Head and Shoulders Pattern
The Ethereum price is currently testing the Neckline Region and rejecting from this resistance.
In the coming days, we expect to see the Right Shoulder of this Inverse Head and Shoulders Pattern form in the 15 minutes timeframe. Once this right shoulder forms, we can then prepare for the breakout.
The image below is an example of the type of price action we are expecting to see play out in Ethereum in the coming days.
Final Verdict!
We believe there is a very high probability that the Ethereum sell-off might be coming to an end very soon! the key pattern that supports this bullish bias is the Inverse Head and Shoulders pattern currently forming in the 15 minutes timeframe.
This key pattern offers us a clear picture of what we can expect from ETH as well as the key levels to watch for in the coming days.
For now, we are waiting for the pattern to complete and once we see ETH break through the Neckline region, we will be looking to take advantage of this bullish pattern.
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