Ethereum, Approaching The Next Possible Entry-Zone!

BITFINEX:ETHUSD   Ethereum / U.S. Dollar
Hello Traders Investors And Community, Welcome to this analysis where we are looking at ethereum 4-hour timeframe perspective, the recent events, the current formational structure and what we can expect the next times. Since ethereum established heavy selling pressure to the downside this was a mechanism now important in the structure here and the big question now is if the bearishness will continue or ethereum manages to do a reversal, as I detected in my analysis the bearish continuation case is much more likely at the moment and the reversal can not be expected for now, therefore I detected the important levels and how the outcome can look like for ethereum we should consider currently.

Looking at my chart you can see the marginal up moves ethereum forms here, when these moves continue they will lead directly into the resistance cluster marked in my chart in red, this cluster is consiting of the falling resistance line in black, the 35-EMA in red and the horizontal resistance also in red, all three coming together and forming a coherent resistance cluster here which is highly likely to be confirmed downward when this happens and ethereum moves below the rising dashed support the bearish pace will continue and ethereum will take the next leg to the downside, currently this is the higher possible scenario as the bearish signs are just to strong for now.

In this manner, thank you for watching, support for more market insight, good day to you, and all the best!
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