Ethereum Returns to the $2K's

14 Feb 2022

Ethereum has fallen back to the 2K handle. After forming a head and shoulders pattern we broke down from $3042 and smashed through $2965, the next level below. The next level of support at $2852 does seem to be holding but the price action looks pretty weak. If we break down further, $2762 and $2651 should provide support. If we see a burst of momentum, we should see strong resistance from $3042, the neckline of our head and shoulders pattern.