Hello Traders Investors And Community,
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. As mentioned already previously Ethereum on the more global timeframe perspectives is trading in this main ascending-channel-dynamic where it is now developing this wave to the downside and in this case, now I discovered important zones and scenarios with the formation forming here, therefore it is necessary to do not underestimate the bearish side as the possibility for initial pullbacks is given, in this case, I detected all the important levels and likely destinies we should consider within the established structure and upcoming movements.
As when looking at my chart we can watch there how Ethereum is now forming this main descending-channel-formation marked with the boundaries in blue, within this channel Ethereum has the coherent wave-count and already formed the waves A to B within the channel with the recent pullback from the upper-boundary as the origin of the main wave C to the downside which will continue till there is support found in which Ethereum has the ability to stabilize and back-up again and continue either with its wave-count or show up with a breakout above the upper-boundary from where Ethereum has the ability to continue and test upper zones of resistances therefore in the first place it will be important on how Ethereum reacts into the lower zones of support and how a bounce to the upside from there can emerge. When this bounce is sufficient enough this can be the right source of the continuation till the breakout shows up.
Thank you everybody for watching the analysis, 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 hourly timeframe perspective, the recent events, the established formational structure, and what we can expect in the upcoming times. As mentioned already previously Ethereum on the more global timeframe perspectives is trading in this main ascending-channel-dynamic where it is now developing this wave to the downside and in this case, now I discovered important zones and scenarios with the formation forming here, therefore it is necessary to do not underestimate the bearish side as the possibility for initial pullbacks is given, in this case, I detected all the important levels and likely destinies we should consider within the established structure and upcoming movements.
As when looking at my chart we can watch there how Ethereum is now forming this main descending-channel-formation marked with the boundaries in blue, within this channel Ethereum has the coherent wave-count and already formed the waves A to B within the channel with the recent pullback from the upper-boundary as the origin of the main wave C to the downside which will continue till there is support found in which Ethereum has the ability to stabilize and back-up again and continue either with its wave-count or show up with a breakout above the upper-boundary from where Ethereum has the ability to continue and test upper zones of resistances therefore in the first place it will be important on how Ethereum reacts into the lower zones of support and how a bounce to the upside from there can emerge. When this bounce is sufficient enough this can be the right source of the continuation till the breakout shows up.
Thank you everybody for watching the analysis, 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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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.