Ethereum price could be preparing a strong rebound after forming a giant hammer candle and confirming the inverted head-and-shoulders chart pattern as the staking queue jumps to a record high. The entry queue has jumped to a record high of 4.06 million coins, while only 31,915 coins are waiting to get out. These numbers mean that the wait time to stake has jumped to 70 days. There are signs that the coin has completed the formation of the right shoulder.
It has also formed a hammer candle, which is made up of a long lower shadow and a small body. A hammer is another common bullish reversal sign in technical analysis. Therefore, the coin will likely bounce back in the coming weeks, potentially to the psychological point at $2,500.
Ethereum price could be primed for a strong rebound after a giant hammer candle formed and the inverted head-and-shoulders pattern was confirmed as the staking queue rose to a record high. The entry queue climbed to 4.06 million coins, while 31,915 coins remain waiting to exit, pushing the staking wait time to about 70 days. There are signs that the right shoulder is completing, reinforcing the bullish signal from the hammer candle.
The hammer candle, defined by a long lower shadow and a small body, is a classic bullish reversal pattern in technical analysis. Taken together, the setup suggests the market could bounce in the coming weeks, potentially toward the psychological level near $2,500. Traders should monitor follow-through as demand in the staking queue continues to influence price dynamics. A sustained upside would depend on continued interest in staking and broader market momentum.
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