Hello,
Welcome to this analysis about Ethereum, we are looking at the 45-minute timeframe perspectives. Ethereum in recent times as I discovered shows up with signs that are indicating the first reversal in the structure, besides that I also discovered an important formation forming that will be a determining factor. As when looking at my chart now we can watch there how Ethereum now two times pulled back bearishly from the 3164 level marked in orange in my chart. These two pullbacks are referring to the main double-top-formation with the first and second top marked in my chart. Also Ethereum has this ascending-trend-line in this structure which is corresponding with the 140-EMA in red and the 100-EMA in green, these levels are meaningful reference-levels now still holding the bullish trend to the upside however when they are broken to the downside and Ethereum marks below these levels it will indicate further bearish continuation to the downside firstly into the neckline level marked in blue. When the neckline does not hold and Ethereum closes below it this will complete and confirm the whole double-top-formation and Ethereum will continue bearishly till the initial target-zone at 2645 has been reached. It will be important on how Ethereum approaches this zone because when there comes a sustainable bounce this can indicate a stabilization however when this does not happen Ethereum will continue bearishly in the bearish-continuation-zone marked in red. For now, we should not keep the bearish perspective out of sight to be prepared on upcoming volatilities, it will be an important and interesting development ahead.
In this manner, thank you for watching my update-analysis about ETHEREUM and the major double-top-formation with the high likelihood of bearish alignments in the next times, support the analysis with a like and follow or comment for more market insight!
Information provided is only educational and should not be used to take action in the market.
Welcome to this analysis about Ethereum, we are looking at the 45-minute timeframe perspectives. Ethereum in recent times as I discovered shows up with signs that are indicating the first reversal in the structure, besides that I also discovered an important formation forming that will be a determining factor. As when looking at my chart now we can watch there how Ethereum now two times pulled back bearishly from the 3164 level marked in orange in my chart. These two pullbacks are referring to the main double-top-formation with the first and second top marked in my chart. Also Ethereum has this ascending-trend-line in this structure which is corresponding with the 140-EMA in red and the 100-EMA in green, these levels are meaningful reference-levels now still holding the bullish trend to the upside however when they are broken to the downside and Ethereum marks below these levels it will indicate further bearish continuation to the downside firstly into the neckline level marked in blue. When the neckline does not hold and Ethereum closes below it this will complete and confirm the whole double-top-formation and Ethereum will continue bearishly till the initial target-zone at 2645 has been reached. It will be important on how Ethereum approaches this zone because when there comes a sustainable bounce this can indicate a stabilization however when this does not happen Ethereum will continue bearishly in the bearish-continuation-zone marked in red. For now, we should not keep the bearish perspective out of sight to be prepared on upcoming volatilities, it will be an important and interesting development ahead.
In this manner, thank you for watching my update-analysis about ETHEREUM and the major double-top-formation with the high likelihood of bearish alignments in the next times, support the analysis with a like and follow or comment for more market insight!
Information provided is only educational and should not be used to take action in the market.
►✅JOIN THE BEST+ TOP TELEGRAM TRADING CHANNEL: t.me/VincePrinceForexGoldStocks
►🚀Write To Join the Elite VIP Signal Channels: @Vince_Prince
►🔥JOIN BYBIT TOP EXCHANGE►🎁 UP TO $30,000 BONUS NOW: partner.bybit.com/b/VinceByBit
►🚀Write To Join the Elite VIP Signal Channels: @Vince_Prince
►🔥JOIN BYBIT TOP EXCHANGE►🎁 UP TO $30,000 BONUS NOW: partner.bybit.com/b/VinceByBit