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A double-bottom has formed, the neckline has been broken, and the 2163 target level doesn’t look like wishful thinking.

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CoinNetwork
Crypto news: On the daily chart, Ethereum (ETH) has formed a double-bottom pattern, suggesting that the price will break through to $2,163. The current bottom support level is $1,510. ETH has already broken above the neckline resistance at $1,842, gaining 6.88% over the past 24 hours. This rally was boosted by the launch of Ethereum Systems (ethsystems) and positive reaction to inflation data that came in below expectations. According to veteran chart analyst Aksel Kibar’s analysis, the pattern’s target price is $2,163, reflecting ongoing bullish sentiment in the market.
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