Ethereum looks like it’s setting up for a potential drop after forming a textbook Head & Shoulders pattern on the 4H chart.
This pattern (marked clearly with a left shoulder, head, and right shoulder) is often seen before a price reversal. Right now, ETH has already broken below the neckline (around 2,480), confirming the bearish pattern, and is currently retesting that level from below.
What’s Next?
If the pattern plays out, we could see ETH drop toward the projected target zone around 2,200–2,250, which is highlighted in blue on the chart. This zone also lines up with a previous area of interest and sits near a broken trendline, adding confluence to the setup.
What I see:
Resistance: ~2,500 (neckline retest)
Target: ~2,200 support zone
Broken trendline adds downside pressure
Unless bulls reclaim the neckline quickly and push above the right shoulder (~2,650), this looks like a bearish continuation setup.
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