Could Ethereum Trigger a Bear Trap? Analyst Sees Potential for Record Highs

Ethereum (ETH) may appear bearish initially, but veteran analyst Johnny Woo cautions of potential trap. According to Woo’s analysis on BlockBeats, charts suggest a ‘head and shoulders’ pattern might form in September, leading to a breakout during an anticipated October rally. This scenario forecasts Ethereum could plummet to support level around $3,350 in September before rebounding in October and achieving new all-time highs by November. This echoes similar patterns observed in September 2021 when ETH experienced a 30% dip from $3,950 to $2,750, only to ultimately soar to record highs in November. #ETH