Hello Traders Investors And Community,
Welcome to this analysis about Ethereum, we are looking at the 6-hour timeframe perspective, the recent events, the established formational structure, and what we can expect in the upcoming times. Ethereum managed to stabilize from its strong bearish downside volatility and moved on to test previous resistances recently from where it initially pulled back and as I discovered now is forming an interesting formation in the structure that can show up with worthwhile dynamics when Ethereum manages to develop the right price-action, therefore I detected all the important levels and likely destinies we should consider with the established structure and upcoming movements ahead.
Structural Developments:
As when looking at my chart now we can watch there that since Ethereum pulled back from the major descending-resistance-line marked in blue is now forming a broadening-wedge-formation marked in orange in my chart, within this formation Ethereum already completed the waves A to D in the structure and is now about to maintain the wave E that will finalize the whole formation and will move into the confirmational-bounce-cluster marked in my chart in blue where several supports coming together and therefore Ethereum has a high likelihood given when it moves into this zone. When the bounce in the structure can show up properly this is likely to continue with a bullish increase and potential breakout-validation.
Upcoming Determinations:
Taking all these factors into consideration Ethereum is moving in a structure from where it can build up and form a great bullish breakout above resistance-zones therefore it is inevitably necessary that Ethereum properly bounces in the zones and when this happens with Ethereum increasing bullishness a final breakout-validation will show up above the upper boundary of the formation and above the point-of-control of the volume-profile in red. When Ethereum manages to develop under these suggested circumstances there is a good possibility given for further advancement in the bullish-breakout-confirmation-zone marked in green in which Ethereum can move on to test the previous resistance, it will be an interesting journey.
Thank you everybody for watching the analysis, great contentment for everybody supporting, have a good day and good trading, all the best!
"Good luck is when opportunity meets preparation."
Information provided is only educational and should not be used to take action in the market.
Welcome to this analysis about Ethereum, we are looking at the 6-hour timeframe perspective, the recent events, the established formational structure, and what we can expect in the upcoming times. Ethereum managed to stabilize from its strong bearish downside volatility and moved on to test previous resistances recently from where it initially pulled back and as I discovered now is forming an interesting formation in the structure that can show up with worthwhile dynamics when Ethereum manages to develop the right price-action, therefore I detected all the important levels and likely destinies we should consider with the established structure and upcoming movements ahead.
Structural Developments:
As when looking at my chart now we can watch there that since Ethereum pulled back from the major descending-resistance-line marked in blue is now forming a broadening-wedge-formation marked in orange in my chart, within this formation Ethereum already completed the waves A to D in the structure and is now about to maintain the wave E that will finalize the whole formation and will move into the confirmational-bounce-cluster marked in my chart in blue where several supports coming together and therefore Ethereum has a high likelihood given when it moves into this zone. When the bounce in the structure can show up properly this is likely to continue with a bullish increase and potential breakout-validation.
Upcoming Determinations:
Taking all these factors into consideration Ethereum is moving in a structure from where it can build up and form a great bullish breakout above resistance-zones therefore it is inevitably necessary that Ethereum properly bounces in the zones and when this happens with Ethereum increasing bullishness a final breakout-validation will show up above the upper boundary of the formation and above the point-of-control of the volume-profile in red. When Ethereum manages to develop under these suggested circumstances there is a good possibility given for further advancement in the bullish-breakout-confirmation-zone marked in green in which Ethereum can move on to test the previous resistance, it will be an interesting journey.
Thank you everybody for watching the analysis, great contentment for everybody supporting, have a good day and good trading, all the best!
"Good luck is when opportunity meets preparation."
Information provided is only educational and should not be used to take action in the market.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
►✅JOIN THE BEST+ TOP TELEGRAM TRADING CHANNEL: t.me/VincePrinceForexGoldStocks
►🚀Write To Join the Elite VIP Signal Channels: @Vince_Prince
►🔥JOIN BYBIT TOP EXCHANGE►🎁 UP TO $30,000 BONUS NOW: partner.bybit.com/b/VinceByBit
►🚀Write To Join the Elite VIP Signal Channels: @Vince_Prince
►🔥JOIN BYBIT TOP EXCHANGE►🎁 UP TO $30,000 BONUS NOW: partner.bybit.com/b/VinceByBit
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.