Ethereum May Still Confirm a Pattern That Would Imply a Breakdown to $320

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Ethereum has been pushing higher after reaching $380 late last week. The asset trades for $400 as of this article’s writing, bouncing around 5% from last week’s lows. At the highs on Monday, ETH traded for $410 as buyers stepped in en-masse. Ethereum is now closing daily candles above $400, which is notable for bulls. Despite this growing strength, an analyst notes that a chart pattern that will confirm a $50-80 breakdown for ETH is still in formation. The pattern has not confirmed, but it may soon be validated if ETH moves below the $380 region. Ethereum analysts remain optimistic about the asset due to the fundamental trends of the underlying network. Ethereum Could Soon Break Lower if Price Slips Below $380: Analyst Ethereum is still forming a potential head and shoulders pattern that predicts a strong bearish reversal, crypto analyst Josh Olszewicz recently commented. He shared the chart below…

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