ETH: Daily Bearish Head and Shoulders Breakdown Confirmed

Trader Tardigrade states that ETH has confirmed a bearish head and shoulders on the daily timeframe, with the breakdown now active and a measured downside target at $2,086.

On the 4h chart ETH trades at $2246.4 inside the Bollinger Bands, with the upper resistance at $2403.87 and lower support at $2180.82. Price sits below both the EMA50 at $2322.76 and the EMA200 at $2449.56, confirming the bearish trend structure while the MACD at -29.33 remains in death cross territory. The RSI at 38.23 stays neutral, leaving room for further downside before any oversold bounce materializes toward the lower band or the pattern target.