Ethereum, High Volatile Move, Here Is What To Examine Now!

Hello Traders Investors And Community, welcome to this analysis where we are looking at ethereum 2-hour timeframe perspective, the recent events, the current formation-structure, what to expect from it, where the journey is heading, and how to determine the possible outcome. Other than the major cryptocurrency bitcoin ethereum has had strong resistance levels on the higher timeframes which confirmed also as those as expected and sent ethereum to the downside stronger than bitcoin , this is also a big difference here as bitcoin has some more solid support levels the ones in ethereum are rather weak with high possibilities to confirm also below them as ethereum made some exceptionally high volatile moves to the upside this was just logical, in this case, I detected some important signals which should be considered now to determine further outcomes.

Looking at my chart you can watch there that ethereum is building up a marginal smaller bull-run which is still weak at the moment and is currently approaching resistance at the 50-EMA in orange, this is also an important difference to bitcoin where it is already above this EMA ethereum is more likely to confirm it as resistance, for the case that ethereum manages to move above this EMA it has a huge resistance-level there which is the Fibonacci-resistance you can watch marked in red where ethereum will highly likely firstly fail with its uptrend and confirm it as resistance, overall there are two possible scenarios which can happen here, the first one is that ethereum establishes to bounce from the 100-EMA in black and move above resistance which is unlikely at the moment and the second one is when ethereum confirms resistance and falls below the EMA to continue downward.

This situation is a situation where etheruem has shown greatly selling pressure to the downside and approaching strong resistance levels where it will have a hard time moving above therefore the bearish continuation scenario is much more likely in this structure as. The next times will be interesting how this will play out and from a trading perspective, the confirmation above the Fibonacci-resistance can be considered for more upside movement while the close below the 100-EMA will indicate more bearish pressure to follow-up over the next times. This structure is similar to bitcoin but ethereum has weaker supports and therefore more room to fall and overall a bigger possibility that this will happen therefore we should not keep the bearish scenario out of sight here as this can easily confirm the next times when ethereum does not manages to hold the crucial support.

In this manner, thank you for watching the analysis, support for more market insight and all the best.

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