HI!
Ethereum is currently developing a potential Head & Shoulders pattern on the 30-minute chart.
The structure is fairly clear: the left shoulder formed around the 2,640–2,660 area, followed by a deeper head that swept into the 2,600 flip zone. Price then recovered and formed a right shoulder around 2,650–2,660.
The key level to watch is the neckline around 2,640–2,655. As long as this area holds, the pattern remains valid, and ETH could attempt another move higher.
For the bullish scenario, the main confirmation would be a break above the descending trendline. If that breakout is supported by momentum, the next major resistance/target zone sits around 2,775–2,785.
On the other hand, losing the right-shoulder support and especially breaking below the neckline would weaken the setup and could invalidate the bullish idea.
For now, I’m watching the descending trendline + right-shoulder support closely. A clean breakout could be the trigger for the next leg higher.
Key levels:
🔹 Support: 2,640–2,660
🔹 Flip area: ~2,600
🔹 Trendline resistance: ~2,720–2,740
🔹 Target zone: 2,775–2,785
Let’s see whether ETH can finally break the trendline and confirm the setup.