DISCLAIMER: I am not a financial advisor nor certified analyst. All contents discussed on this blogpost are solely my own personal views and for Trading education/entertainment purposes only . Do your own research and due diligence.

with that being said, let's get into it;

1 Day Timeframe.

Starting the analysis On the 1 Day Timeframe chart on Ethereum, there was a previous breakout from a major support zone as we head downwards looking for the nearest support zone to balance ourselves for the meantime.

After the first breakout, we were able to find a new support zone as we're based there as of making this analysis.

1 Hour Timeframe.

There's currently high chance of going even further downwards or bearish as you may call it, and this became clear to me after making this analysis.

The major cause or reason for the bearish movement we're about to undergo is the fact that there's a breakout on another trend line but this time on the 1 hour Timeframe as the candlesticks head even more downwards.

But let's hope this won't be going too far as we're on the 1 hour timeframe.

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Until next time, peace.