Ethereum, Head-Shoulder-Formation, Upcoming Possibilites Given!

Hello Traders Investors And Community,

Welcome to this analysis about Ethereum, we are looking at the 2-hour timeframe perspective, the recent events, the established formational structure, and what we can expect within the upcoming times. The last times Ethereum has shown up with some important bearish volatility to the downside, besides that, it is still trading in a range where it will show the conclusions within the schedule, and in this case, it is meaningful if Ethereum either confirms in the bearish or bullish direction, furthermore I discovered an interesting formation that is likely to be the decisive source within the upcoming times, therefore I detected all the important levels and likely outcomes we should consider with Ethereum here.

As when looking at my chart now we can watch there Ethereum has formed this major head-and-shoulder-formation within the structure marked in orange with the blue neckline, recently Ethereum bounced within the 120-EMA in blue to initiate this right shoulder within the formation and move directly into this strong upper-resistance determined by the descending-resistance-line marked in my chart in red where the pullback is likely to show up next times furthering the right shoulder within the zone, this pullback will first move into the neckline again and into the decisive confirmation zone lying there marked in my chart in orange from where Ethereum will determine next conclusions within the schedule.

Taking all these factors into consideration Ethereum will show up with the final conclusions once the whole head-and-shoulder-formation has completed, in this case, there are different possibilities, as Ethereum has still strong resistance within the structure and as it already showed up with this heavy bearishness and it is not seldom seen that the market continues after such initiates the bearish scenario has a great possibility of 65% compared to the bearish scenario with a possibility of 35%. Therefore the bearish side should be more expected to come up with upcoming times however it is of high importance to wait on the proper validations before finally moving into the right direction, it will be an interesting development.

In this manner, thank you for watching the analysis, have a good day and of course good trading, all the best!
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Information provided is only educational and should not be used to take action in the markets.