Ethetreum
Ethereum, Since A-T-H Test, Upcoming Terms Likely To Consider!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. We have seen Ethereum establishing a strong upside-pace over the last days, weeks and month and already forming this new all-time-high however this new all-time-high is not yet fully confirmed as Ethereum firstly pulled back into the range again, in this case Ethereum needs to show up with the right price-action to fully confirm this new all-time-high, therefore I detected all the important levels and likely outcomes we should consider with Ethereums established structure and the upcoming movements.
Structural Developments:
As when looking at my chart we can watch there how Ethereum established this upside-wave-count with the wave 3 recently moving into the new all-time-high and pulling back again after this was touched, furthermore we see Ethereum having some solid supports lower in the structure marked in my chart with the blue considerable back-up-cluster where several important supports coming together and forming this coherent cluster consisting of the 25-EMA in green as well as the 35-EMA in red, the support which was previous resistance in blue and the major ascending-trend-line in blue coming together and forming very strong support within this level where Ethereum is likely to bounce when moving in it.
Upcoming Perspectives:
Ethereum is in a situation where it established some important movements that have some good potentials to continue, although Ethereum already formed this all-time-high it did not yet fully confirmed, to confirm Ethereum rightly needs to mark within the all-time-high-zone minimum above the 1700 level to validate it otherwise it can also indicate a bull-trap however when Ethereum shows up with it this will give a great bullish edge with further potentials ahead. For now it will be worthwhile how Ethereum proceeds further in the structure and how it will react to the suggested supports given to emerging with wave 5 from there, it will be an interesting development ahead.
In this manner, thank you for watching the analysis, have a good day, and of course good 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 markets.
