ETH (and BTC) have been moving in downtrends for a couple months. Within these channels, they have been following HS patterns on differing scales.
ETH is setting up for a larger HS pattern (as is BTC) which could signify a final move to break through the correction channel. For more discussion, see BTC link below, including relation to RSI patterns.
This is meant to be educational, not trading advice. However the reoccurrence of these fractals lends support to the overall analysis.