Ethereum’s Head & Shoulders: A Crash Below $4k?

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Ethereum has entered another bearish phase, having failed to reclaim a critical level. One might say it’s as if the market has decided to take a holiday, leaving the price to wander aimlessly like a lost soul in a crypto desert. 🚨 With all the technical indicators pointing toward further declines, the price of Ethereum risks tumbling below the fabled 4.000 $, a level that has been as elusive as a well-timed punchline. The culprit? A deceptively simple yet ominous chart pattern: the Testa e Spalle-a.k.a. the “Head and Shoulders” which, in the world of finance, is about as reliable as a weather forecast in a tornado. 📉

Cosa Significa Il Pattern Testa E Spalle Per Il Prezzo Di Ethereum

Mr. Meliketrader, the crypto sage, has shared a chart on TradingView that reveals the completion of the Testa e Spalle on Ethereum’s 4-hour chart. The pattern began in August, with the spalla sinistra (left shoulder) mid-month, the testa (head) toward the end of August, and the spalla destra (right shoulder) finalized in mid-September. One might imagine the market as a confused hiker, stumbling through a forest of numbers. 🌲

After the pattern’s completion, the price of Ethereum launched a ferocious bearish candle, which shattered the neckline (the market’s necktie). This confirmed the risk of further declines, much to the dismay of the bullish crowd, who now resemble a group of disappointed clowns. 🎪

The neckline, situated between 4.200 $ and 4.400 $, is the market’s last hope. Should it fail, Ethereum will plunge deeper into the abyss. The analyst suggests targets around 3.850 $, with a range of 3.700-3.900 $, depending on where the neckline is measured. “This level coincides with the last great zone of resistance, so it’s like a magnet for the desperate,” quipped Meliketrader, who clearly has a flair for the dramatic. 🧠

Segnali Tecnici: RSI E Momentum

Another twist in this tale is the RSI divergence near the head, suggesting the market might be getting a bit dizzy. Ethereum has also entered overbought territory, signaling a possible slowdown in the bearish momentum. It’s as if the market is taking a deep breath before the next punch. 🧘‍♂️

Una Speranza Per I Rialzisti

To revive Ethereum, a decisive breakout above the neckline (between 4.320 $ and 4.400 $) is needed. If the crypto manages to close convincingly above this zone, the Head and Shoulders pattern would be invalidated, much to the relief of the bullish crowd. 🎉

In this scenario, Ethereum could stage a dramatic rebound, especially since it’s already in overbought territory. However, the analyst warns investors to be cautious, as the market is as unpredictable as a P.G. Wodehouse character’s plot. 🕵️‍♂️

 

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2025-09-25 18:59