#Ethereum #ETH
📉$ETH on the verge of a fall? Head and Shoulders pattern threatens a collapse to $2,400
It seems that the “king of altcoins” is going through difficult times. After an unsuccessful attempt to consolidate above $3,000, Ethereum ($ETH ) is showing weakness again. Analysts warn: if support fails, a painful fall is ahead.
The main thing about the current situation:
• Anxious pattern: Well-known analyst Ali Martinez noticed the formation of a classic “Head and Shoulders” figure. The left shoulder formed in late November, the head during the December jump to $3,400, and now the right shoulder is completing.
• Downward target: A break of the neckline could trigger a 15% correction, which would bring the price to $2,400 — a minimum we haven’t seen since the beginning of the third quarter.
• Worst Q4 since 2019: Ethereum closes Q4 with -28.76%. December also remains “red”: the price is trading below the opening level of the month ($2,991).
What do the experts say?
• Ted Pillows: Stresses the importance of the $3,000 level. While ETH is lower, the risk of a pullback to $2,700–$2,800 remains critical.
• Sjuul (AltCryptoGems): Believes that a loss of $2,700 will be a “bearish” signal, but a drop to $2,400 could become a zone for a strong rebound back to the upper limits of the range.
📊 Current price: ~$2,933 (-2.53% per day).
Bulls urgently need to regain the initiative, otherwise the New Year's rally for Ethereum may turn into an “ice shower”.
