Ethereum, Urgent Levels To Hold Or Bear-Protractions Follow!

Hello Traders Investors And Community,

Welcome to this analysis about Ethereum, we are looking at the daily timeframe perspective, the recent events, the established formational structure, and what we can expect in the upcoming times. As Ethereum completed its major ascending-wedge-formation and showed up with serious bearish price-action to the downside that it also moved below this important ascending-trend-line which held the price to the upside. Now in this case I discovered the underlying significant levels very necessary in the upcoming times, especially when considering the bullish continuation perspective there are some very inevitable price-actions Ethereum needs to show up with, therefore I detected all the important levels and likely destinies.

Structural Developments:
As when looking at my chart now we can watch there how Ethereum is now below this dashed ascending-trend-line from where an initial continuation is likely especially as Ethereum already established the bearish pace, therefore it is likely that it will move on the next times to test this first ascending-trend-line marked in blue in my chart where also the EMAs are lying, this level is very very necessary for Ethereum to hold rightly because when this does not happen and Ethereum moves below it this will lead to a bearish protraction and increase of further bearish pressure to the downside till there is support found in which Ethereum can stabilize and back-up again, it is definitely important to keep in the mind when Ethereum does not manage to hold the level.

Upcoming Determinations:
Taking all these factors into consideration Ethereum is trading within a very serious situation in which it is trading on the verge and needs to show up with the right stabilization and back-up signs as suggested and compared to Bitcoin Ethereum has a higher bearish edge this is why it is necessary to do not keep this scenario out of sight as sophisticated traders we always need to trade what we see not what we think, therefore it will be necessary to elevate how Bitcoin approaches the supports and how it develops from there, these determinations will lie ground for the next destinies and will show if Bitcoin manages to stabilize sustainably or continues bearishly further, it will be an important and interesting development.

Thank you everybody for watching the analysis, great contentment for everybody supporting, have a good day and good trading, all the best!
"The high destiny of the market is to explicate, rather than to speculate."

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