Ethereum-Market-Status-Update

Hello Traders Investors And Community,

Welcome to this analysis where we are looking at ethereum 1-hour timeframe perspective, which is showing quite some interesting signs at the moment as recent bearish volatility entered surfaced and pulled back into the previously established range, this move was just too swift and strong to pass over and the fact that ethereum has not yet shown serious bullish reversal signs makes it a more important matter, currently ethereum is trading on the werge and it is a important question if it manages to hold the level sustainably or continue with the bearish extension. In this case, I discovered the important levels with the possible outcomes we should consider at the moment to at the end be prepared when the proper scenario enters.

Looking at my chart you can watch the huge ascending-channel-formation with the lower and upper boundary already touched several times, such movements in channels either show a breakout to the upside when the trend gains in speed or to the downside when the trend loses volatility, currently we have a low-volatility-cycle established as it is marked in my chart, also you can watch there the falling upper-boundary line making already lower-highs in the structure, considering this of a trend-following perspective the established downmark resulting from the last waves to the downside can form into a protracted donwmark extension when ethereum does not hold the lower boundary and moves below it.

As ethereum already established this low volatile movement together with the heavy bearish move to the downside the breakout of lower boundary should definitely be considered at the moment, otherwise when ethereum holds the lower boundary and consolidates there to stabilize it needs to move above the falling resistance line to form any serious advantage further in the structure when there manages this it can test higher levels and possibly move to the upper boundary again to test it once again, nevertheless, the bearish scenario is currently a more likely one. It will be interesting how there develops further here and comes around, in a trading view it is important to look for the proper confirming either in mark up or down direction as mentioned.

In this manner, thank you for watching, support for more market insight, good day to you, and all the best!
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Information provided is only educational and should not be used to take action in the markets.