ETH, Initially Moved Below The Threshold, Main Perspectives!

Hi,

Welcome to this analysis about Ethereum, we are looking at the 2-hour timeframe perspectives. Ethereum recently made an important move below this previously well-established ascending-trend-line where it bounced three times and with the fourth time it now moved below the line which is now a resistance that should not be underestimated together with the point-of-control resistance and the 500-EMA also serving as resistance, that is why in the upcoming times Ethereum will show up with the ability to move into this zone where a pullback will likely follow-up as these resistances are just too strong to keep by side. The main crucial conclusions will come after this as Ethereum will pull back further and test the lower levels of support mainly determined by the considerable support- and stabilization-zone where Ethereum has some solid supports lying from where a new bounce can emerge. After that, it will be important to elevate then if Ethereum has further potentials to come up with a final channel breakout.

In this manner thank you, everybody, for watching the analysis, will be great when you support it, and all the best!

Information provided is only educational and should not be used to take action in the market.