Ethereum has now entered what looks to be another bearish phase after failing to reclaim a critical level. With all of the technicals pointing toward further downside, it now puts the Ethereum price at risk of crashing back below $4,000, a level which was hard-won by the bulls over the last few months. Most of this has to do with one seemingly simple formation, and that is a Head and Shoulders pattern that shows a downtrend after the pattern is complete.

What This Head And Shoulders Pattern Means For Ethereum Price

Crypto analyst Meliketrader shared a chart on the TradingView website showing the Head and Shoulders pattern that had been completed on the Ethereum 4-hour chart . The chart shows the pattern had begun to appear back in August, with the left shoulder toward the middle of

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