ETH signals a reversal after stabilizing at $3000: Inverse head and shoulders pattern may indicate a $4800 target

【Crypto World】Ethereum recently stabilized above the $3000 support level, with the daily chart showing a price rebound and moving towards the $3100 region. More notably, a reverse head and shoulders pattern has appeared on the weekly chart—such patterns often indicate a trend reversal. If the price can close above the critical resistance of $3400, it may face a wave of larger upward movement, with a target pointing to the $4800 level.

From on-chain data, the situation becomes even more interesting. ETH’s price increase lags behind the economic growth of the network’s fundamentals, suggesting there may be room for systemic undervaluation. Once the $3100 level is effectively broken, accumulated short positions will face concentrated liquidations, and this release of liquidity often further drives the price upward. Overall, Ethereum currently has a solid technical and on-chain fundamental basis for an upward trend.