Ah, Ethereum! It has gallantly reclaimed a rather significant technical level in the latest 24-hour trading session, crossing above the $2,800 mark and briefly flirting with $2,870. How charming! This delightful cross marks the first time since February 2025 that Ethereum has dared to dance above the $2,800 threshold. This little escapade comes amidst a rising bullish momentum, courtesy of Bitcoin, and according to our crypto connoisseur, this could merely be the prologue to a much grander rally for Ethereum. 🎉
Technical Pattern Suggests Ethereum Could Be Close To $20,000
Now, let’s talk about an intriguing technical formation that has caught the eye of some traders: a classic inverse Head and Shoulders bottom. Our crypto expert, Gert van Lagen, has shared his analysis on the social media platform X, declaring that this inverse head and shoulders is setting up on a long-term timeframe. How very avant-garde!
Specifically, Ethereum’s two-week candlestick chart, shared by the analyst, reveals a fully formed structure with a left shoulder in mid-2021, a pronounced head that took shape during the bear market in late 2022 to early 2023, and a right shoulder forming throughout the 2024 correction into early 2025. Quite the dramatic saga, wouldn’t you agree?
The left shoulder emerged in mid-2021, when Ethereum’s price peaked around $4,870, only to retrace into the year-end. The head was formed at the lows around $1,350 in 2022 and 2023. The right shoulder is currently in formation after the Ethereum price rebounded from roughly $1,600 in 2025. And let’s not forget the symmetry around the neckline drawn near the $4,200 price region. A true masterpiece!
Now, keeping this in mind, the neckline of the pattern, which is anchored just below the $4,200 resistance level, is now the most important level to break above. A confirmed breakout above this zone could activate the full bullish target projected by the technical formation. How thrilling!
ETH Price Close To $20,000
According to Gert van Lagen, the two-week head-and-shoulders pattern suggests Ethereum may be “closer to $20K than most anticipate.” His price target calculation follows a classic technical methodology. By measuring the vertical distance from the head’s lowest point to the neckline resistance and then projecting that same distance upward from the neckline, he arrives at a target of approximately $19,500. A staggering 600% gain from today’s price levels! Can you imagine? 😲
In the same analysis, van Lagen also highlighted a descending broadening wedge pattern that has been forming since mid-2023. This secondary structure reinforces the notion that Ethereum may embark on a significantly larger breakout once $4,200 is cleared. How positively riveting!
However, this projection of $19,500 is based on the technical symmetry of the inverse head and shoulders pattern, rather than any fundamental shifts in Ethereum. Additionally, there is no clear timeline for this target; however, based on the multi-year nature of the inverse head and shoulders pattern, the price target may take up to four years to materialize. Patience, dear investors, patience!
At the time of writing, Ethereum is trading at $2,772, having retraced slightly from $2,870. A rather dramatic turn of events, wouldn’t you say?
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2025-06-12 21:43