Ethereum is trading at around $3,300 with a 24-hour trading volume of $34.26 billion. The price is down 3% in the last 24 hours and 14% weekly.
Despite the recent pullback, analysts are closely watching a large technical setup that could indicate a potential long-term shift in trend.
Pattern on Monthly Chart Signals Key Level Ahead
Trader Tardigrade shared a chart showing an Inverse Head and Shoulders forming on Ethereum’s monthly timeframe. The pattern outlines a left shoulder in late 2024, a head in mid-2025, and a right shoulder currently forming.
$ETH/monthly
A massive Inverse Head and Shoulders pattern is forming on the #Ethereum monthly chart, targeting $14,000 🔥
The Right Shoulder is under construction ✍️ pic.twitter.com/cRdIwihF2z— Trader Tardigrade (@TATrader_Alan) November 7, 2025
The neckline sits around $4,000 to $4,400. If Ethereum moves and closes above this range, the setup could complete. The measured move from the pattern points to a target near $14,000. For now, the structure is still developing. Tardigrade noted that Ethereum is still “building the right shoulder,” and the breakout has not yet occurred.
In addition, Titan of Crypto marked the 38.2% Fibonacci retracement level at around $3,050. Ethereum recently touched this level and bounced. The reaction came with a weekly candle that showed a strong rejection of lower prices.
Titan posted that the “bull market remains valid” if Ethereum holds this zone. The level is seen as support during pullbacks in larger trends. If this area holds, Ethereum could resume its upward move.
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ETH/BTC Pair Finds Support
Michaël van de Poppe charted the ETH/BTC pair and pointed to a support zone just above 0.0325 BTC. This area has been marked as a potential buy zone, based on past consolidation and price behavior.
ETH bounced after touching this support, though the pair remains under its 9-week EMA. If the asset continues to hold and reclaims the short-term trend line, the ETH/BTC chart may show strength again. Below this, 0.0256 BTC and 0.0199 BTC are marked as the next areas of interest.
Short-Term Data Shows Selling Still Present
CryptoQuant analyst PelinayPA noted that the Taker Buy-Sell Ratio on Binance remains below 1.0. This suggests more aggressive selling than buying in recent sessions.
Meanwhile, Bitcoinsensus reported that Ethereum saw a bounce after dipping under $3,300, calling $5,000 a “magnet zone.” It remains to be seen if the price can build momentum after this bounce.
