Just been looking at Ethereum's chart and noticed something interesting - there's a pretty textbook inverse head and shoulders pattern forming on the macro timeframe. If this plays out, we could be looking at a $7,000 target, which is pretty significant from where we're trading now around $2,400.

The pattern has been building over a couple of years. You had the left shoulder dip back in 2022-2023, then the head bottomed lower in 2024 during the bear pressure, and now the right shoulder is shaping up recently. The neckline resistance sits between $4,000-$4,500 range, and honestly if ETH breaks decisively above that with volume, the head and shoulders pattern would be confirmed and could trigger some real upside momentum.

What's supporting this setup is the fundamentals look pretty solid right now. Layer-2 scaling solutions are actually delivering on the scalability promise, and the supply dynamics are deflationary which helps. On-chain activity is picking up too - daily transactions are over 1.2 million and DeFi TVL is approaching $100 billion. That's real usage, not just hype.

Obviously you gotta watch out for macro headwinds and regulatory stuff that could mess with the pattern, but if the head and shoulders pattern holds and we see that breakout, could be an interesting move ahead. Just keeping an eye on it for now.