ethtechnicalsetup

🧠 $ETH forms a Head and Shoulders pattern: Are we facing a reversal or a breakout?

Ethereum ($ETH ) shows precise technical signals on the chart, as it tests strong resistance around the $4,210 level, coinciding with a potential formation of a Head and Shoulders pattern, one of the most prominent reversal patterns in technical analysis.

📊 Current Technical Scenario
- Head: The last peak at $4,217
- Shoulders: Two close peaks around $4,210
- Neckline: Horizontal support at ~$4,185

🧩 Potential Scenarios
1️⃣ Bearish Confirmation
A break below the neckline (~$4,185) with high trading volume could activate the pattern, targeting the following support levels:
→ $4,068 (Highest daily level)
→ $4,003 (Strong buying area)
→ $3,879 (Historical support)

2️⃣ Bullish Invalidity
A clear breakout above $4,210 with a strong close negates the pattern and opens the way for the bullish trend to continue towards new peaks.

📌 Key Catalyst for the Next Move?
Price reaction at the neckline. Breaking it or holding it will determine the market direction in the coming days.

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