Besides some bullish moves in the last few days, Ethereum seems to have escaped the $2000 range and now trades above $3000. Unfortunately, a fatal pattern that can dump Ethereum over 50% has formed on the daily chart.
Ethereum price today is $3,138.22 USD with a 24-hour trading volume of $12,214,929,728 USD. Ethereum is up 1.07% in the last 24 hours, with a market cap of $375,339,310,187 USD. It has a circulating supply of 119,602,505 ETH coins.
As seen in the daily chart above, Ethereum has formed a head and shoulder pattern that stretches more than 50%. The pattern has a base at $2300 meaning if the price falls below this support level, it would be confirmation of this pattern – further plummeting the price.