Ethereum Head & Shoulders Pattern Breakdown: Can Bulls Reclaim Control?

Ethereum’s recent price action on the 4-hour chart has led to the formation of a classic Head and Shoulders pattern that opens up the possibility of a deeper correction. After a relatively stable period around the $2,500 zone, Ethereum broke below a neckline support level as last week drew to a close. This raises the question of whether a bearish continuation is already in motion for the Ethereum price or if bulls still have a shot at regaining momentum in the new week. Related Reading: Elon Musk ‘Will Do Anything’ To Make XRP King, Tech Mogul Says Head & Shoulders Pattern Confirmed After Breakdown Below $2,480 The Head and Shoulders pattern, one of the most recognizable reversal formations in technical analysis, is now clearly visible on Ethereum’s 4-hour candlestick chart source: https://www.newsbtc.com/altcoin/ethereum-head-shoulders-pattern-breakdown-can-bulls-reclaim-control/