Ethereum’s recent price action on the 4-hour chart has led to the formation of a classic Head and Shoulders pattern that opens up the possibility of a deeper correction. After a relatively stable period around the $2,500 zone, Ethereum broke below a neckline support level as last week drew to a close. This raises the question of whether a bearish continuation is already in motion for the Ethereum price or if bulls still have a shot at regaining momentum in the new week.
Head & Shoulders Pattern Confirmed After Breakdown Below $2,480
The Head and Shoulders pattern, one of the most recognizable reversal formations in technical analysis, is now clearly visible on Ethereum’s 4-hour candlestick chart. This chart and the technical outlook were first shared on the TradingView platform by crypto analyst MelikaTrader94. The structure includes a left shoulder, a prominent head peaking above $2,700, and a right shoulder that topped near $2,650. The neckline, drawn around $2,4
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