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 in the upcoming times. In the past weeks, Ethereum managed to mark above its previous all-time-high and close on the weekly within the new all-time-high region, this was a major achievement for Ethereum and in this case, now I discovered a very decisive structure Ethereum is forming that will be very important in the upcoming determinations, therefore I detected all the important levels and likely destinies we should consider within the established structure and the upcoming movements we should consider.
Structural Developments:
As when looking at my chart now we can watch there how Ethereum shooted above the previous all-time-high-condition and initially tested the upper-boundary of this massive ascending-channel-formation marked in blue from where it now recently pulled back to the downside with this strong bearish candle, where it is now testing the previous all-time-high condition, this level is extremely necessary to hold sustainably because when this does not happen and Ethereum does not manage to increase to the upside from that level it will continue bearishly within the bearish-continuation-zone marked in my chart in red because the main reference-supports will be broken then, this is a scenario that should not be underestimated here.
Upcoming Determinations:
Taking all these factors into the consideration now when Ethereum manages to stay above these important supports and manage a bullish increase such a price-action can potentially lead to a breakout above the upper boundary of the massive channel, when this case happens it is necessary that Ethereum properly holds above the boundary to increase further because when this does not happen it can also lead to a bull-trap. For now, it will be highly necessary to elevate how Ethereum manages to continue further within the established structure and how it will build up from there, in any case, the outcome needs to be elevated before finally moving in the proper 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!
"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 weekly timeframe perspective, the recent events, the established formational structure, and what we can expect in the upcoming times. In the past weeks, Ethereum managed to mark above its previous all-time-high and close on the weekly within the new all-time-high region, this was a major achievement for Ethereum and in this case, now I discovered a very decisive structure Ethereum is forming that will be very important in the upcoming determinations, therefore I detected all the important levels and likely destinies we should consider within the established structure and the upcoming movements we should consider.
Structural Developments:
As when looking at my chart now we can watch there how Ethereum shooted above the previous all-time-high-condition and initially tested the upper-boundary of this massive ascending-channel-formation marked in blue from where it now recently pulled back to the downside with this strong bearish candle, where it is now testing the previous all-time-high condition, this level is extremely necessary to hold sustainably because when this does not happen and Ethereum does not manage to increase to the upside from that level it will continue bearishly within the bearish-continuation-zone marked in my chart in red because the main reference-supports will be broken then, this is a scenario that should not be underestimated here.
Upcoming Determinations:
Taking all these factors into the consideration now when Ethereum manages to stay above these important supports and manage a bullish increase such a price-action can potentially lead to a breakout above the upper boundary of the massive channel, when this case happens it is necessary that Ethereum properly holds above the boundary to increase further because when this does not happen it can also lead to a bull-trap. For now, it will be highly necessary to elevate how Ethereum manages to continue further within the established structure and how it will build up from there, in any case, the outcome needs to be elevated before finally moving in the proper 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!
"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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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.