Ethereum, In Potential Flag-Formation, Main Scenarios!

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 scenarios Ethereum is likely to show up with. Ethereum last times managed to hold the supports established at the 1300 level and form some bullishness to the upside from there, this, however, is not yet a complete bullish reversal as Ethereum not yet fully validated it, in this case, we should not underestimate the possibilities for bearish pullbacks, therefore I detected all the important levels and likely destinies we should consider with Ethereums established structure and the upcoming movements we should consider.

Structural Developments:
As when looking at my chart we can watch there how Ethereum is building this major ascending-channel-formation marked with the boundaries in blue, furthermore, Ethereum is trading within this coherent wave-count in which it already completely finished the waves A and B in the schedule and now with the wave C runs directly into this dynamic resistance-cluster marked in red from where a pullback to the downside is highly likely that should be also expected in this case, this pullback will initially move on into the lower-boundary, which will be crucial as Ethereum will decide either to continue the established wave-count with the wave D and a wave E to the upside moving into the upper-resistance or Ethereum right aways breaks out below the lower-boundary completing the formation as a bear-flag and pointing to further continuations.

Upcoming Determinations:
Taking all these factors into the consideration now it will be important to elevate how Ethereum moves into the lower-boundary anew and if there comes a bullish bounce because when this happens the wave-count will continue and finish with the wave E otherwise when this does not happen and Ethereum increases with bearishness further a breakout below the lower-boundary will complete the channel as a flag right away and indicate the continuation to lower levels, these are the two main scenarios important to consider here, either way, the bearish perspective is still not from the desk. This does not mean Ethereum is completely bearish therefore it will be determining how Ethereum reacts within the lower-supports to form a potential stabilization.

Thank you everybody for watching the analysis, great contentment for everybody supporting, have a good day and good trading, all the best!
"Trading effectively is about assessing possibilities, not certainties."

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