Ethereum Head & Shoulders Pattern Breakdown: Can Bulls Reclaim Control? 📉
Ethereum's 4-hour chart shows a Head and Shoulders pattern, signaling possible deeper correction. With a break below the $2,480 neckline, Ethereum moved towards bearish tendencies but attempts to reclaim lost ground are underway as it retests the neckline at $2,500.
If bulls fail to break above this level, further decline toward $2,200-$2,250 is anticipated, consistent with technical patterns. For a bullish outlook, Ethereum must surpass $2,500 and $2,650, potentially revisiting $2,700-$2,800.
The path remains narrow for bulls, and Ethereum's price could drop rapidly without proper reclaim.
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