Megaphone Pattern Governs The Ethereum’s Ongoing Price Action; Is $2000 In Reach?

The formation of a megaphone pattern in the daily time frame chart shows the Ethereum price is in a state of high volatility and uncertainty among the market participants. Furthermore, the ETH price’s recent reversal from the rising trendline triggered a near-bear cycle /correction phase, which could tumble its price below the $1500 support.