🚨 ETH Price Alert: The Battle for $3,710! 🚀
The road to $3,710 is facing a speed bump! $ETH is trading around $3,320, up 6.7% in 24h, with a confirmed Inverse Head-and-Shoulders breakout structure still targeting that key level.
📈 Bullish Triggers Still Active
Breakout Structure: The bullish Inverse Head-and-Shoulders pattern remains VALID as long as $2,710 holds.
Bullish Crossover: A 20-EMA/50-EMA Golden Cross is forming—a classic signal that buyers are gaining momentum. Completion of this cross could be the catalyst to push to the target.
⚠️ The Bearish Counter-Signal
Profit-Taking Risk: The Net Unrealized Profit/Loss (NUPL) metric has climbed to 0.296, entering the "Optimism–Anxiety" zone.
Historical Precedent: The last time NUPL hit this level (Dec 3), fell ~5.2% as holders booked profits.
The Wait: Rising paper profits create a strong incentive for selling, which could DELAY or even prevent the bullish crossover from finalizing, forcing a longer wait for $3,710.
🔑 Key Levels to Watch
Path to $3,710:
12-Hour Close above $3,390 is the first signal.
Clearing $3,570 is the key that unlocks the full $3,710 move.
Invalidation: A decisive move under $2,610 invalidates the entire bullish setup.
Current Situation: $ETH
is caught between a strong technical breakout signal (EMA crossover) and a cautionary on-chain metric (NUPL). The next few sessions are CRITICAL.
🤔 What do you think? Will paper profits hold the price down, or will the EMA cross send us to $3,710?