ETH/USD - Head & Shoulders Breakdown Targeting $2,850
🔻 Bearish Setup with Macro Volatility Ahead! 🔻
📊 Overview
Ethereum (ETH/USD) is showing clear signs of a breakdown, forming a Head & Shoulders (H&S) pattern on the 15M chart. The measured move suggests a target of ~$2,850, aligning with key Fibonacci levels and historical support.
This breakdown setup coincides with macro uncertainty as the Federal Reserve meeting (Jan 30-31) approaches, which could accelerate volatility across risk assets.
🛠 Technical Analysis
1️⃣ Head & Shoulders Breakdown (Bearish)
• Left Shoulder, Head, Right Shoulder clearly visible on the 15M chart.
• Neckline at ~$3,080 – a close below confirms the breakdown.
• Measured move target: $2,850.
2️⃣ Support & Resistance Zones
✅ Support Levels:
• $3,050 → Fibonacci 0.5 retracement.
• $2,900 → Strong confluence of trendline & Fib 0.618.
• $2,850 → 🔥 Measured move target from the H&S pattern.
📊 Overview
Ethereum (ETH/USD) is showing clear signs of a breakdown, forming a Head & Shoulders (H&S) pattern on the 15M chart. The measured move suggests a target of ~$2,850, aligning with key Fibonacci levels and historical support.
This breakdown setup coincides with macro uncertainty as the Federal Reserve meeting (Jan 30-31) approaches, which could accelerate volatility across risk assets.
🛠 Technical Analysis
1️⃣ Head & Shoulders Breakdown (Bearish)
• Left Shoulder, Head, Right Shoulder clearly visible on the 15M chart.
• Neckline at ~$3,080 – a close below confirms the breakdown.
• Measured move target: $2,850.
2️⃣ Support & Resistance Zones
✅ Support Levels:
• $3,050 → Fibonacci 0.5 retracement.
• $2,900 → Strong confluence of trendline & Fib 0.618.
• $2,850 → 🔥 Measured move target from the H&S pattern.
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