ETH/USD - Head & Shoulders Breakdown Targeting $2,850

🔻 Bearish Setup with Macro Volatility Ahead! 🔻

📊 Overview

Ethereum (ETH/USD) is showing clear signs of a breakdown, forming a Head & Shoulders (H&S) pattern on the 15M chart. The measured move suggests a target of ~$2,850, aligning with key Fibonacci levels and historical support.

This breakdown setup coincides with macro uncertainty as the Federal Reserve meeting (Jan 30-31) approaches, which could accelerate volatility across risk assets.

🛠 Technical Analysis

1️⃣ Head & Shoulders Breakdown (Bearish)
• Left Shoulder, Head, Right Shoulder clearly visible on the 15M chart.
• Neckline at ~$3,080 – a close below confirms the breakdown.
• Measured move target: $2,850.

2️⃣ Support & Resistance Zones

✅ Support Levels:
• $3,050 → Fibonacci 0.5 retracement.
• $2,900 → Strong confluence of trendline & Fib 0.618.
• $2,850 → 🔥 Measured move target from the H&S pattern.