ETH Stabilizes at $2,500 Today — Could a Breakout to $3,237 Be Next?

Ethereum (ETH) is holding around the $2,515 mark after experiencing a mild daily decline on June 20.

However, ETH still maintains its position above the $2,383 support level and is trading slightly below the neckline resistance line at $2,824.

What makes this situation interesting is the formation of an inverted head-and-shoulders pattern that fits perfectly with the technical analysis theory on the daily chart.

Before discussing further, let’s explore Ethereum’s current price movements first!