Ethereum market price rose by 3.16% amidst a historic week for the crypto market, benefiting from a 44.69% increase over the past month.
Analyst Ted Pillows predicts Ethereum's positive performance to continue, pointing to an inverse head-and-shoulders pattern on the 12-hour daily trading chart.
The $2,700 mark is critical for Ethereum, with a breakout potentially leading to a $3,000 price target, implying a 17.4% increase.
Currently, Ethereum is trading at $2,500 with a 0.34% gain in the past day, while on-chain analytics indicate a decline in network fees and an inflow of $74 million in ETH to exchanges.