🟢 Bearish risk in #ETH

In the last few days, the coin has corrected on the 4-hour timeframe. Let's see what this movement has led to.

Since May 10, the price has remained above the upward trend line, which acts as support. The level around ~$2,420 and the 50 exponential moving average are also support zones.

Above this trend line, a dangerous bearish head and shoulders pattern 🐻 has formed.

This creates additional downside risks, although in these situations two scenarios usually develop:

1. Movement towards the base level of the pattern followed by a bounce. In this case, a correction down to ~$2,420 and then a subsequent bounce from there.

2. Quick breakout to the upside, as the pattern is too obvious and goes against the market trend.

Overall, risks have emerged for Ethereum, but they are not that critical ☝️.

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