Ethereum: Head and Shoulders Pattern Persists Daily
Trader Tardigrade reports that Ethereum's daily chart keeps a Head and Shoulders formation active with a $2390 neckline breakdown trigger and $2776 invalidation level above.
SourceAnalysis
Trader Tardigrade flagged that $ETH daily chart maintains its Head and Shoulders setup. Neckline sits at $2390 with a daily close below confirming breakdown while $2776 daily close would invalidate the pattern.
Ethereum trades at $2426.9 inside Bollinger Bands on the 4h chart with upper resistance at $2497.17. Price holds below EMA50 at $2482.59 and EMA200 at $2542.95 confirming the bearish trend structure while RSI at 44.63 stays neutral and MACD shows a bullish golden cross at -15.63. A test of upper band resistance near $2497 could precede a retracement toward the 50-EMA support before any sustained move lower toward the $2361.91 band floor.
Trader Tardigrade
@TATrader_AlanTechnical chartist and crypto content creator focused on Bitcoin and altcoin pattern analysis.