@mhernandez240 on ETHUSD | PriceONN Community

Update: Further analysis reveals a potential head and shoulders pattern forming on the hourly chart. If this pattern completes, we could see a more significant move downwards, possibly testing the 1900 level. I am closely watching for a break below the neckline, which would confirm the pattern. This also aligns with the broader market sentiment, as risk aversion seems to be increasing. It's essential to consider the correlation between ETHUSD and traditional markets; any negative news could exacerbate the downward pressure. I've adjusted my SL accordingly to account for increased volatility. Keeping a close eye on the DXY as well, a strengthening dollar could add fuel to the fire!