Ethereum Breakdown Ahead? Classic Head & Shoulders Pattern

6 giu

Hello Guys!

Ethereum looks like it’s setting up for a potential drop after forming a textbook Head & Shoulders pattern on the 4H chart.

This pattern (marked clearly with a left shoulder, head, and right shoulder) is often seen before a price reversal. Right now, ETH has already broken below the neckline (around $2,480), confirming the bearish pattern, and is currently retesting that level from below.

📉 What’s Next?
If the pattern plays out, we could see ETH drop toward the projected target zone around $2,200–$2,250, which is highlighted in blue on the chart. This zone also lines up with a previous area of interest and sits near a broken trendline, adding confluence to the setup.

✅ What I see:

• Resistance: ~$2,500 (neckline retest)
  
• Target: ~$2,200 support zone
  
• Broken trendline adds downside pressure
  

Unless bulls reclaim the neckline quickly and push above the right shoulder (~$2,650), this looks like a bearish continuation setup.

29 giu

Trade attivo

the long position activated