NewsBTC

8 June 2025

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Ethereum Forms Head and Shoulders Pattern After Breaking Below $2,480

Ethereum has formed a Head and Shoulders pattern on its 4-hour chart, indicating potential for a deeper correction following a drop below the neckline support at $2,480. Key points include:

• Price broke below $2,480 during last week's pullback to $2,380.
• Currently retesting the neckline around $2,500; failure to reclaim this level may confirm bearish outlook.
• Price target from the Head and Shoulders breakdown is projected between $2,200 and $2,250.
• Bulls must reclaim $2,650 to invalidate the bearish setup.
• A bullish recovery could lead to a retest of the $2,700 to $2,800 zone.

As of now, Ethereum is trading at $2,510.