Ethereum, Major Channel-Formation, Important Considerations!

Hello Traders Investors And Community,

Welcome to this analysis about Ethereum, we are looking at the hourly timeframe perspective, the recent events, the established formational structure and what we can expect in the upcoming times. Since showed up with initial heavy bearishness to the downside it moved into a very interesting constellation, for now, the bearish perspectives should not be underestimated here as Ethereum has the possibility given to continue, therefore I discovered all the important levels and likely destinies we should consider with the established structure and the upcoming movements ahead in the next times, therefore I detected all the important levels and likely destinies we should consider with Ethereum.

Structural Developments:
As when looking at my chart we can watch there how Ethereum is trading in this massive descending-channel-formation marked in my chart with the blue boundaries, within this formation Ethereum has this coherent wave-count in which it already completed the waves A to B in the structure and now with the ending-determination of wave B is running directly into the upper-boundary of the descending-channel which is also matching with the upper-boundary of the potential bear-flag forming here, therefore it is likely that Ethereum shows up with a bearish pullback to the downside increasing the possibility to complete the channel as a bear-flag which should also be expected in the next times.

Upcoming Determinations:
Taking all these factors into consideration Ethereum is trading in a situation where it will likely complete this main bear-flag as thus and show up with the further wave-development therefore with the development of the wave C to the downside which will approach the main back-up-cluster marked in blue from where a bounce has good possibility to show up, when this happens and Ethereum bounces sustainably within the EMAs such a price-action can mainly lead to a channel-breakout above the upper-boundary which will continue with a further increase of volatility and activation of upside targets nevertheless this first needs to be validated properly, it will be an interesting development.

Thank you everybody for watching the analysis, great contentment for everybody supporting, have a good day and good trading, all the best!
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Information provided is only educational and should not be used to take action in the market.