ETHEREUM, Decisive FORMATION To Determine DESTINIES!

Hello,

Welcome to this analysis about Ethereum and the 4-hour timeframe perspectives. In recent times the Cryptocurrency Market is in a crucial decision phase with many coins moving into important determining formations from where the outcomes need to bee assessed in the times to come. While many tech stocks such as GOOGL, AMZN or AAPL show heavy bear market declines and the major indices also declining further the FED decided upon increasing the interest rates while the inflation is still accelerating to an 8.5% in the United States. In such an environment it is necessary to recognize that further rate hikes are coming to late to tackle this enormous inflation will likely cause further declines in the stock market however when looking at the Cryptocurrency Market it can serve as an inflation hedge moving anticyclical to the Stock Market similarly as it is historically the case with Gold in such periods. In this case now I detected a decisive pattern forming in Ethereum which is necessary to consider here.

As when looking at my chart we can watch there that Ethereum similarly as it is the case with many other Cryptocurrencies is building a formation that will decide the further outcomes in the next times. Therefore, the formation that Ethereum is forming here is a main descending-triangle-formation which is normally known as the main reversal formation if the formation does not invalidate to the downside. Therefore, now, it is highly necessary that Ethereum manages to hold above the $2,720 support and bounce within this range because when this does not happen and Ethereum moves below these zones the formation will be clearly invalidated. On the other side when Ethereum manages to breakout above the upper boundary the formation will be appropriately validated in the bullish direction and Ethereum will activate the targets seen in my chart at the $3,100 level from where the dynamics need to be assessed again. For now, it is necessary to keep patient and wait for the appropriate confirmations before moving to further conclusions, it will be an important development ahead.

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