Ethereum-Market-Status-Update-Analysis
Hi my friends,
Welcome to this analysis where we are looking at ethereum 12-hour timeframe perspective, the recent events, the current formational structure and how possible outcomes can look like at the end of the day. Since the bearish breakdowns established in all major cryptocurrencies so also in ethereum which is showing some interesting signs the last times. As it retested the 200-EMA in red anew this is a crucial point for ethereum here, currently, we should not keep the established bearishness by side therefore a continuation to the downside is more likely within the middle and longer-term perspectives, the question is when this will happen and if ethereum firstly tests some higher levels before to set up for another leg, in this case, I detected all the important levels and possible outcomes we should consider at the moment for ethereums destines.
Looking at my chart you can watch the 200-EMA just tested the last times and ethereum found some support there, as ethereum already bounced in this level previously it can happen now another time nevertheless ethereum will run into strong resistance layers upper in the structure, these levels are just to strong to keep by side for now and when ethereum reaches out to these it highly possible confirms them also bearishly this can end up in a consolidation phase as it is marked in my chart, which actually will build the set up for a new disturbing leg downside, it is possible that ethereum moves above this level, the possibility, however, is highly marginal and the bearish case can be much more expected here. When this happens and ethereum moves below the lower boundary the huge channel can also confirm as a possible bear-flag-formation.
In this manner, thank you for watching, support for more market insight, good day to you, and all the best!
“Trading effectively is about assessing possibilities, not certainties.”
Information provided is only educational and should not be used to take action in the markets.
Welcome to this analysis where we are looking at ethereum 12-hour timeframe perspective, the recent events, the current formational structure and how possible outcomes can look like at the end of the day. Since the bearish breakdowns established in all major cryptocurrencies so also in ethereum which is showing some interesting signs the last times. As it retested the 200-EMA in red anew this is a crucial point for ethereum here, currently, we should not keep the established bearishness by side therefore a continuation to the downside is more likely within the middle and longer-term perspectives, the question is when this will happen and if ethereum firstly tests some higher levels before to set up for another leg, in this case, I detected all the important levels and possible outcomes we should consider at the moment for ethereums destines.
Looking at my chart you can watch the 200-EMA just tested the last times and ethereum found some support there, as ethereum already bounced in this level previously it can happen now another time nevertheless ethereum will run into strong resistance layers upper in the structure, these levels are just to strong to keep by side for now and when ethereum reaches out to these it highly possible confirms them also bearishly this can end up in a consolidation phase as it is marked in my chart, which actually will build the set up for a new disturbing leg downside, it is possible that ethereum moves above this level, the possibility, however, is highly marginal and the bearish case can be much more expected here. When this happens and ethereum moves below the lower boundary the huge channel can also confirm as a possible bear-flag-formation.
In this manner, thank you for watching, support for more market insight, good day to you, and all the best!
“Trading effectively is about assessing possibilities, not certainties.”
Information provided is only educational and should not be used to take action in the markets.
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