Hello Traders Investors And Community,
Welcome to this analysis about Ethereum, we are looking at the 2-day timeframe perspective, the former events, the established formational structure, and what we can expect in the upcoming times. Since Ethereum finally managed to breakout above the previously established all-time-high-zone it has shown up with initial bullish movements nevertheless it firstly bounced back and is now testing previous levels of support, this will be crucial as these supports will determine if Ethereum manages to continue with the established bullishness or invalidates it in terms if the supports hold properly or not, therefore I detected all the important levels and likely destinies we should consider within the established structure and upcoming movements.
Structural Developments:
As when looking at my chart now we can watch there how Ethereum has established this major ascending-channel-formation marked with the boundaries in blue, within this channel Ethereum has a coherent wave-count with the origin way lower in the structure beginning with last years corona-breakdowns. Now as Ethereum advanced above the all-time-high it is about to form the main wave D in the schedule that consists of the waves A to C with the last wave C currently forming, besides that Ethereum has the main support-cluster within the structure from where a bounce to the upside is likely when Ethereum moves into it. This is also a very important support to hold because when Ethereum moves below it will initially invalidate the bullishness.
Upcoming Determinations:
Ethereum has established a solid bullish pace over the last months now it is the time to validate further potential bullishness and the next wave-development which will happen when Ethereum manages properly to bounce within the given support and sets up to finally form the breakout above the resistance from there, otherwise when this does not happen and Ethereum closes below this level to increase bearish pressure it will invalidate the bullishness firstly and will show up with further bearish pressure to test lower levels. These are the main scenarios important to consider here and it is necessary to keep patient and wait for the proper confirmations before moving in the right direction. It will be an interesting journey ahead.
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 2-day timeframe perspective, the former events, the established formational structure, and what we can expect in the upcoming times. Since Ethereum finally managed to breakout above the previously established all-time-high-zone it has shown up with initial bullish movements nevertheless it firstly bounced back and is now testing previous levels of support, this will be crucial as these supports will determine if Ethereum manages to continue with the established bullishness or invalidates it in terms if the supports hold properly or not, therefore I detected all the important levels and likely destinies we should consider within the established structure and upcoming movements.
Structural Developments:
As when looking at my chart now we can watch there how Ethereum has established this major ascending-channel-formation marked with the boundaries in blue, within this channel Ethereum has a coherent wave-count with the origin way lower in the structure beginning with last years corona-breakdowns. Now as Ethereum advanced above the all-time-high it is about to form the main wave D in the schedule that consists of the waves A to C with the last wave C currently forming, besides that Ethereum has the main support-cluster within the structure from where a bounce to the upside is likely when Ethereum moves into it. This is also a very important support to hold because when Ethereum moves below it will initially invalidate the bullishness.
Upcoming Determinations:
Ethereum has established a solid bullish pace over the last months now it is the time to validate further potential bullishness and the next wave-development which will happen when Ethereum manages properly to bounce within the given support and sets up to finally form the breakout above the resistance from there, otherwise when this does not happen and Ethereum closes below this level to increase bearish pressure it will invalidate the bullishness firstly and will show up with further bearish pressure to test lower levels. These are the main scenarios important to consider here and it is necessary to keep patient and wait for the proper confirmations before moving in the right direction. It will be an interesting journey ahead.
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.
►✅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.
►✅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.