Ethereum’s $14K Bull Pattern Forms Amid Price Struggles

Technical analyst Trader Tardigrade has identified a significant Inverse Head and Shoulders pattern developing on Ethereum’s monthly timeframe, a formation that could signal a major trend reversal. The pattern shows a left shoulder forming in late 2024, a head in mid-2025, and a right shoulder currently under construction. This technical setup represents one of the most watched developments in the cryptocurrency market, with the neckline positioned between $4,000 and $4,400.

The completion of this pattern requires Ethereum to decisively break and close above the $4,000-$4,400 resistance zone. According to Tardigrade’s analysis, the measured move from this pattern points to a potential target of approximately $14,000, representing a substantial upside from current levels. However, the analyst emphasizes that the structure remains in development, with the right shoulder still forming and no breakout confirmed yet.

While the long-term pattern suggests bullish potential, Ethereum faces immediate challenges as it trades around $3,300 with a 3% decline in the last 24 hours and a 14% weekly drop. Analyst Titan of Crypto has highlighted the importance of the 38.2% Fibonacci retracement level at approximately $3,050, which Ethereum recently tested and bounced from. This reaction was accompanied by a weekly candle showing strong rejection of lower prices, indicating potential support strength.

Titan of Crypto maintains that the bull market structure remains valid as long as Ethereum holds above this critical Fibonacci level. The $3,050 zone has historically served as significant support during pullbacks within larger uptrends, making its defense crucial for maintaining bullish momentum. The recent bounce from this level suggests that buyers are stepping in at what they perceive as attractive entry points.

Analyst Michaël van de Poppe has drawn attention to the ETH/BTC trading pair, which is testing a crucial support zone just above 0.0325 BTC. This area has previously served as consolidation territory and is now being watched as a potential buying opportunity based on historical price behavior. Despite bouncing from this support, the pair remains below its 9-week exponential moving average, indicating continued relative weakness against Bitcoin.

Short-term data from CryptoQuant analyst PelinayPA reveals ongoing selling pressure, with the Taker Buy-Sell Ratio on binance/?utm_source=CVJ.Ai&utm_medium=glossary&utm_id=CVJ.AI" target="_blank">Binance remaining below 1.0, indicating more aggressive selling than buying in recent sessions. This metric suggests that despite the technical patterns forming on longer timeframes, immediate market sentiment remains cautious. Bitcoinsensus reported that Ethereum saw a bounce after dipping under $3,300, describing $5,000 as a “magnet zone” that could attract price movement if momentum builds.

The convergence of these technical factors creates a complex picture for Ethereum traders. While long-term charts suggest substantial upside potential through the Inverse Head and Shoulders pattern, short-term indicators show continued selling pressure and relative weakness against Bitcoin. Market participants are closely watching whether Ethereum can maintain key support levels while building the necessary momentum to challenge the critical $4,000-$4,400 resistance zone that would confirm the bullish reversal pattern.