Ethereum, The Main Head-Shoulder And Its Upcoming Scenarios!

Hello Traders Investors And Community,

Welcome to this analysis about Ethereum, we are looking at the 4-day timeframe perspectives. Ethereum in recent times has started to develop a major formation which will be the decisive formation in the upcoming times, it is a head-and-shoulder-formation as already mentioned in the previous analysis. Mainly Ethereum is in a decisive situation as the bearish pullbacks that emerged were just to strong to keep from the desk however there is also a potential given that Ethereum stabilizes here and possibly starts a new bullish development from this point, in any case, it is necessary to keep patient and elevate the final confirmation in either direction before rushing into final conclusions, therefore I detected all the important levels and determinations.

Structural Developments:
As when looking at my chart we can watch there this massive head-and-shoulder-formation Ethereum is developing here with the neckline marked in blue and the left shoulder as well as head almost already completed. For now, Ethereum is about to form the right shoulder in the structure and what is significant to assess here is that Ethereum already moved below the 20-EMA marked in red in this structure which is normally a bearish sign and should not be underestimated. Within this right shoulder forming Ethereum is developing this symmetrical triangle which will be a factor for a breakout either to the up or downside in the upcoming times and the further aligned determinations.

Upcoming Determinations:
Taking all these factors into the consideration it will be meaningful on how Ethereum continues here further, likely is that Ethereum moves on with the development in the symmetrical triangle before the decisive breakout sets up. Overall there are two potential scenarios given, the first one is the bullish scenario which confirms when Ethereum has the ability to increase demand and finally breakout above this descending-trend-line otherwise there is the bearish scenario which will show up when Ethereum does not manages to maintain serious bullishness and therefore finally closes below the neckline into the bearish-confirmation-zone lying ground for the bearish continuations to the downside, these are the two main scenarios important in upcoming times.

In this manner, thank you everybody for watching, support the idea with a like and follow or comment, have a good day as well as weekend, and all the best to you!
"There are many roads to prosperity, but one must be taken."

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