Technical analysis by C1Kings about Symbol ETH: Sell recommendation (1/29/2025)

🔻 Bearish Setup with Macro Volatility Ahead! 🔻📊 OverviewEthereum (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 Analysis1️⃣ 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.