Hello Traders Investors And Community,
Welcome to this analysis about Ethereum, we are looking at the weekly timeframe perspective, the recent events, the established formational structure and what we can expect within the upcoming times. Ethereum is besides Bitcoin the currency that managed to advance within the new all-time-high-region and differently to Bitcoin it is not that heavy massively overbought which can also indicate more potential room for growth, in this case, I discovered the important structure Ethereum is building that can be worthwhile in upcoming determinations, therefore I detected all the important levels and likely destinies we should consider within the established structure and upcoming movements ahead.
Structural Developments:
As when looking at my chart now we can watch there how Ethereum has established this major ascending-channel-formation marked in my chart with the blue boundaries, furthermore Ethereum has this coherent wave-count within the formation in which it already completed the waves A to C in the schedule and now with the recent heavy bearish declines to the downside is setting up to form the wave D ahead upcoming times, this wave D is going to continue bearishly till there is support found in which it can reverse and back-up to indicate the final wave E to the upside that will complete the whole wave-count, this is likely to happen within the back-up-cluster marked in my chart in blue.
Upcoming Determinations:
Taking all these factors into the consideration it will be important next times to elevate how Ethereum continues with this wave-count and how it manages to bounce within the back-up-cluster, when this happens as suggested and the wave E develops it is important to look forward and determine that this wave E will finalize the whole wave-count and run into the upper Fibonacci-extension-zone which will also be a strong overbought area for Ethereum, this is why it can be a potential short-zone with first pullbacks to be expected. For now, it will be important to elevate how Ethereum continues further and when these high levels are reached to be prepared on a potential reversal, it will be an interesting development.
Thank you everybody for watching the analysis, great contentment for everybody supporting, have a good day and good trading, all the best!
"The high destiny of the market is to elevate rather than to speculate."
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 weekly timeframe perspective, the recent events, the established formational structure and what we can expect within the upcoming times. Ethereum is besides Bitcoin the currency that managed to advance within the new all-time-high-region and differently to Bitcoin it is not that heavy massively overbought which can also indicate more potential room for growth, in this case, I discovered the important structure Ethereum is building that can be worthwhile in upcoming determinations, therefore I detected all the important levels and likely destinies we should consider within the established structure and upcoming movements ahead.
Structural Developments:
As when looking at my chart now we can watch there how Ethereum has established this major ascending-channel-formation marked in my chart with the blue boundaries, furthermore Ethereum has this coherent wave-count within the formation in which it already completed the waves A to C in the schedule and now with the recent heavy bearish declines to the downside is setting up to form the wave D ahead upcoming times, this wave D is going to continue bearishly till there is support found in which it can reverse and back-up to indicate the final wave E to the upside that will complete the whole wave-count, this is likely to happen within the back-up-cluster marked in my chart in blue.
Upcoming Determinations:
Taking all these factors into the consideration it will be important next times to elevate how Ethereum continues with this wave-count and how it manages to bounce within the back-up-cluster, when this happens as suggested and the wave E develops it is important to look forward and determine that this wave E will finalize the whole wave-count and run into the upper Fibonacci-extension-zone which will also be a strong overbought area for Ethereum, this is why it can be a potential short-zone with first pullbacks to be expected. For now, it will be important to elevate how Ethereum continues further and when these high levels are reached to be prepared on a potential reversal, it will be an interesting development.
Thank you everybody for watching the analysis, great contentment for everybody supporting, have a good day and good trading, all the best!
"The high destiny of the market is to elevate rather than to speculate."
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.