Ethereum (ETH) Price Outlook: Ready to Break the Trend and Rally 17% to $3,164?

Ethereum price today is up 0.37% and currently trades at $2,619. But there is more upside for Ethereum if it can breach a key level and sustain above it.

1. Ethereum price today is $2,619, up 0.37%. A breakout from the inverse head-and-shoulders pattern predicts a move to $3,164.

2. An inverse head-and-shoulders setup is driving the bullish Ethereum price forecast.

3. Network growth, indicating new addresses joining the Ethereum blockchain, and the 365-day MVRV metric, showing a recovery toward the zero mean level, suggest investor interest in ETH at current price levels.

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