Ethereum's weekly chart is forming an inverse head and shoulders pattern, suggesting a potential price target of $7,600. This pattern, identified across multiple market cycles, features a left shoulder in mid-2024, a deeper trough in early 2025, and a higher low in late 2025. Recently, Ethereum rebounded from $2,860 following a sharp pullback, bolstered by a $6 million long order from a whale wallet, indicating renewed buying interest. Currently, Ethereum is trading at $2,996.12, marking a weekly gain of 2.34% and a market capitalization of $361.61 billion.