$ETH – 30mins Chart Analysis

Head & Shoulders Formation Detected

This is a classic bearish reversal pattern.

🔺 Structure Overview:

Left Shoulder: Formed on strong rally and minor rejection

Head: Higher high printed around $2,525–2,530

Right Shoulder: Lower high, showing weakening momentum

Neckline: Around $2,400 zone, key support to watch

This structure often signals a trend reversal from bullish to bearish — if the neckline breaks convincingly.

Key Levels 🔑

Support (Neckline): $2,400

Breakdown Target (if neckline breaks): Around $2,270–2,300

Invalidation: Move above the head (~$2,530)

If price breaks below the $2,400 neckline with volume, expect downside toward $2,300–$2,270.

Otherwise, a bounce here may lead to sideways chop or a fakeout.