Hi my friends,
Welcome to this analysis about Ethereum, we are looking at the hourly timeframe perspective, the recent events, the established formational structure, and what we can expect in the upcoming times. Ethereum is one of the major currencies holding together with Bitcoin and making new all-time-highs while there are also others looking rather bearish or forming consolidation movements, these divergences are of inevitably importance to assess within these market conditions, therefore I detected the important levels and likely perspectives we should consider within Ethereums developed structure and the upcoming destinies ahead.
Structural Developments:
As when looking at my chart we can watch there how Ethereum now recently just moved above the previous resistance within the wave C of the whole wave-count and is now developing a potential bull-flag-formation which will complete when Ethereum rightly manages to stay above this level and stabilize to set up from there and complete the formations, therefore it is highly necessary that Ethereum rightly holds the support and do not falls below it because this will indicate the testing of the lower boundary of the ascending-channel firstly which does not mean Ethereum is completely bearish, in this case, Ethereum needs to rightly bounce from the boundary to form a potential wave D.
Upcoming Determinations:
Taking all these factors into consideration Ethereum has formed a solid breakout above previous resistance from where it can set up to continue which is also the more likely scenario to consider as there are these several supports now given. Ethereum will move on with a wave-C-extension when it finally closes above the upper boundary of the ascending-channel-formation as it is marked in my chart. For now, it is very important to elevate these validations before rightly moving in the direction with the possibility for a pullback decreasing, this is always necessary to not trade what to think rather trade what is really happening and assessing the market from the right side, it will be an interesting development.
In this manner, thank you for watching the analysis, many thanks for everybody supporting, have a good time and trading, all the best!
"There are many roads to prosperity, but one must be taken."
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 hourly timeframe perspective, the recent events, the established formational structure, and what we can expect in the upcoming times. Ethereum is one of the major currencies holding together with Bitcoin and making new all-time-highs while there are also others looking rather bearish or forming consolidation movements, these divergences are of inevitably importance to assess within these market conditions, therefore I detected the important levels and likely perspectives we should consider within Ethereums developed structure and the upcoming destinies ahead.
Structural Developments:
As when looking at my chart we can watch there how Ethereum now recently just moved above the previous resistance within the wave C of the whole wave-count and is now developing a potential bull-flag-formation which will complete when Ethereum rightly manages to stay above this level and stabilize to set up from there and complete the formations, therefore it is highly necessary that Ethereum rightly holds the support and do not falls below it because this will indicate the testing of the lower boundary of the ascending-channel firstly which does not mean Ethereum is completely bearish, in this case, Ethereum needs to rightly bounce from the boundary to form a potential wave D.
Upcoming Determinations:
Taking all these factors into consideration Ethereum has formed a solid breakout above previous resistance from where it can set up to continue which is also the more likely scenario to consider as there are these several supports now given. Ethereum will move on with a wave-C-extension when it finally closes above the upper boundary of the ascending-channel-formation as it is marked in my chart. For now, it is very important to elevate these validations before rightly moving in the direction with the possibility for a pullback decreasing, this is always necessary to not trade what to think rather trade what is really happening and assessing the market from the right side, it will be an interesting development.
In this manner, thank you for watching the analysis, many thanks for everybody supporting, have a good time and trading, all the best!
"There are many roads to prosperity, but one must be taken."
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.