Ethereum Bulls Encounter Key Challenge as Head-and-Shoulders Pattern Emerges on OBV

Bearish Pressure on OBV: Ethereum's On Balance Volume (OBV) has formed a head-and-shoulders pattern, indicating potential bearish pressure if it drops below the support level of 12.25 million.

Ascending Triangle and Breakout Potential: Ethereum is consolidating within an ascending triangle, with $4,800 as a critical resistance level; a breakout above this could signal a significant upward shift in price.

Bullish MACD Signals: A recent MACD crossover suggests bullish momentum, with predictions indicating a possible price expansion toward the $18,000–$20,000 range if current momentum is maintained.

Conflict in Momentum Signals: There is a notable contrast between the bearish OBV pattern and bullish MACD indicators, highlighting a decisive phase for Ethereum's price movement as it approaches a critical test.