$ETH
Air Force brothers, do you remember our short target from last week?
From a technical analysis perspective, Ethereum is currently exhibiting a standard 1:1 head and shoulders pattern at the 2-hour level. According to the pattern measurement, the theoretical downside target is around 2235. This morning it touched around 2230! In fact, this pattern had already formed over the weekend; we saw it yesterday, but it was very late on the weekend, and we didn't update the public square. Considering the poor liquidity over the weekend, fluctuations were relatively small! However, Ethereum's decline never disappoints the bears! Observing from a larger 2879 cycle, the position at 2243 has completed the full structure of an equidistant ABCD bearish pattern. It is expected that the price will initially see a technical rebound at the current position, but the overall downward trend remains unchanged, and after the rebound, the downward movement will continue!