Ethereum is currently forming a megaphone pattern, a broadening formation characterized by widening price swings and increasing volatility. This structure typically reflects market indecision, as both bulls and bears battle for control, leading to expanding highs and lows.
However, if ETH fails to push above $2,550, the market could face a sudden drop to $1,800 as Evrenos Albarson targets a support zone from the consolidation phases.
