Ethereum price invalidates inverse HnS pattern

The weekly chart shows that Ethereum has formed two distinct patterns in recent months. First, it developed a triple-top formation around the $4,000 level, struggling to break above that point since March last year.

A triple-top is a well-known bearish signal, often leading to further losses once the price drops below the neckline. In Ethereum’s case, the neckline was at $2,146, which was its lowest level in August last year.