Hi,
Welcome to this analysis about Ethereum, we are looking at the 6-hour timeframe perspectives. With Ethereum recently moving on with its established bearish developments it is reaching out to some very important zones from where the situations need to be elevated, Ethereum is now near this major ascending-trend-line marked in my chart where the main supports lying together with the 260-EMA it is likely that Ethereum will bounce in this zone and move on to initially test the remaining upper-resistance from where a pullback has a high possibility to emerge which will form the wave C in the structure to test the support again. Basically, there are two main scenarios to consider then, the first is that Ethereum manages to stabilize with bullishness substantially above the trend-line and the second is when Ethereum closes below the trend-line to protract with the wave-C-extension, therefore it is urgently important to keep patient and await the confirmations before finally moving into the right direction.
In this manner, thank you for watching the analysis and great contentment for everybody supporting, all the best!
"Trading effectively is about assessing possibilities, not certainties."
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 perspectives. With Ethereum recently moving on with its established bearish developments it is reaching out to some very important zones from where the situations need to be elevated, Ethereum is now near this major ascending-trend-line marked in my chart where the main supports lying together with the 260-EMA it is likely that Ethereum will bounce in this zone and move on to initially test the remaining upper-resistance from where a pullback has a high possibility to emerge which will form the wave C in the structure to test the support again. Basically, there are two main scenarios to consider then, the first is that Ethereum manages to stabilize with bullishness substantially above the trend-line and the second is when Ethereum closes below the trend-line to protract with the wave-C-extension, therefore it is urgently important to keep patient and await the confirmations before finally moving into the right direction.
In this manner, thank you for watching the analysis and great contentment for everybody supporting, all the best!
"Trading effectively is about assessing possibilities, not certainties."
Information provided is only educational and should not be used to take action in the market.
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►✅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.