Ethereum H1: The Ichimoku Forecast for the European Session at 5.11.2024

Analyzing previous trading sessions, it is worth paying attention to the intersection of the Tenkan and Kijun lines, marked with a pink square. The fast Tenkan line fell below the Kijun line, which usually signals a change in trend to a downward one. However, later the price rose above the Tenkan line, which indicates the weakness of the downward impulse.
The current situation:
Let's carefully look at the current values of the main components of the Ichimoku indicator to assess the current state of the market:
The Tenkan line remains below the Kijun line. However, the price has broken above both lines and moved higher.
Now the Kumo cloud is tinted lilac, which indicates a possible change in price dynamics in a negative direction.
In the current market profile, the price has fixed below the Kumo cloud. The boundaries of the cloud form a dynamic resistance zone for the price.
Used by investors to identify a change in trend, the green Chinkou line is held below the price on the chart.
Trading recommendations:

The dynamic support level is on the Tenkan line, around the 2399.71 mark.
Dynamic resistance levels are located on the Kijun line, near the 2420.86, the SenkouA line, at the 2456.61 mark, and the SenkouB line, near the 2466.99 mark.
The main Ichimoku system indicators prioritize searching for entry points into short positions, on a price rollback to the resistance levels.