Ethereum, Builds Head-Shoulder-Formation, Upcoming Destinies!

Hello,

Welcome to this analysis about Ethereum and the 45-minute timeframe perspectives. Ethereum in recent times had a good run to the upside and it provided us with some great profits within the VIP. However, now it is beginning to slow down in momentum which is on many occasions a sign of an initial reversal in the structure. Also, Ethereum completed the coherent wave-count from A to E within this main ascending-channel-formation which is playing into the reversal-dynamic. Besides that, I discovered the main formation developing here which is a head-and-shoulder-formation with the left shoulder and the head already completed. In the next times there is a high likelihood given that Ethereum will not move above the local resistance marked in my chart in red, Ethereum will either reverse before this local-resistance or move into the local-resistance to pullback from there as it is marked in my chart, once this happened the main head-and-shoulder-formation has a greater possibility to finally complete which will happen when Ethereum moves below the neckline and closes there as it is marked in my chart, once this happened it will be the origin of further continuations to the downside and the initial target-zone will be the ascending considerable stabilization-support marked in my chart in blue, it will be crucial on how Ethereum reacts into this zone because when there comes a bounce this can lead to further stabilization above the level otherwise when this does not happen Ethereum will continue bearishly when moving below. For now, the completion of the head-shoulder-formation should be expected after that the dynamics need to show further conclusions.

In this manner, thank you for watching my analysis about ETHEREUM with its major head-shoulder-formation and the upcoming destinies to expect, support the analysis with a like and follow or comment for more market insight!
"The most reliable way to forecast the future is to try to understand the present."

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