ETH is currently in the critical testing phase after confirming the head and shoulders top pattern:


Bearish perspective: The 15-minute bearish arrangement is strong, and the high ADX indicates sufficient downward momentum; if the daily head and shoulders top pattern is confirmed, breaking below $2,300 could lead to a drop to $2,200 or even $2,000.
Bullish perspective: The 4-hour moving averages are still in a bullish arrangement and have not been completely broken; as long as $2,306 support holds, there is potential for a rebound above $2,370.
Trading suggestion: Short-term risk is relatively high, so it is recommended to wait and see. If it breaks below $2,300, beware of a deep correction; if it holds above $2,306 and stabilizes, consider a light long position with a stop loss at $2,280.
ETH-2.82%
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MantaIsTryingToGetRichQuick.
· 7h ago
If it really forms a head and shoulders top, that would be awesome 😁
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