$ETH sitting right on that $2400 support line again — weekly chart showing us a potential inverse head and shoulders pattern taking shape.
Let's break down what we're seeing here. Inverse H&S is a bullish reversal structure. You need three things: left shoulder (prior low), head (deeper low), right shoulder (higher low matching left shoulder height). The neckline connects the peaks between these troughs.
Right now, if $2400 holds as our right shoulder, we're watching for a break above the neckline to confirm the pattern. That's your trigger. Until then, it's a setup, not a trade.
Key levels:
- Support: $2400 (must hold for pattern validity)
- Neckline: TBD based on rally peaks
- Invalidation: Clean break and close below $2400 kills the structure
This is textbook technical analysis — the pattern only matters if support holds and neckline breaks. Watch for volume confirmation on the breakout. No volume, no conviction.
Right now we're in the "wait and see" phase. The structure is forming, but it's not confirmed. Patience pays in setups like this.
Let's break down what we're seeing here. Inverse H&S is a bullish reversal structure. You need three things: left shoulder (prior low), head (deeper low), right shoulder (higher low matching left shoulder height). The neckline connects the peaks between these troughs.
Right now, if $2400 holds as our right shoulder, we're watching for a break above the neckline to confirm the pattern. That's your trigger. Until then, it's a setup, not a trade.
Key levels:
- Support: $2400 (must hold for pattern validity)
- Neckline: TBD based on rally peaks
- Invalidation: Clean break and close below $2400 kills the structure
This is textbook technical analysis — the pattern only matters if support holds and neckline breaks. Watch for volume confirmation on the breakout. No volume, no conviction.
Right now we're in the "wait and see" phase. The structure is forming, but it's not confirmed. Patience pays in setups like this.