Ethereum (ETH/USDT) on the 4H timeframe is showing a Head & Shoulders pattern, which often signals a potential bearish reversal after a strong bullish move.
Pattern Observed: Head & Shoulders formation with clear Left Shoulder, Head, and Right Shoulder.
Resistance Area: Around $4,750 – $4,850, aligning with the neckline rejection.
Demand Zone: Current support seen near $4,300 – $4,350. If buyers defend this level, ETH could see a short-term rebound.
Supply Zone: Strong supply below $3,600, in case bearish momentum continues.
Possible Scenarios:
A bounce from the demand zone could push ETH back toward resistance.
A breakdown below support may trigger further downside toward the supply zone.
This setup combines BOS (Break of Structure) and CHoCH (Change of Character) signals, strengthening the bearish case in the short term.
This analysis is for educational purposes only and not financial advice. Always manage your risk before entering any trade.
Pattern Observed: Head & Shoulders formation with clear Left Shoulder, Head, and Right Shoulder.
Resistance Area: Around $4,750 – $4,850, aligning with the neckline rejection.
Demand Zone: Current support seen near $4,300 – $4,350. If buyers defend this level, ETH could see a short-term rebound.
Supply Zone: Strong supply below $3,600, in case bearish momentum continues.
Possible Scenarios:
A bounce from the demand zone could push ETH back toward resistance.
A breakdown below support may trigger further downside toward the supply zone.
This setup combines BOS (Break of Structure) and CHoCH (Change of Character) signals, strengthening the bearish case in the short term.
This analysis is for educational purposes only and not financial advice. Always manage your risk before entering any trade.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.