Hello Traders Investors And Community,
Welcome to this analysis about Ethereum, we are looking at the 2-hour timeframe perspective, the recent events, the established formational structure, and what we can expect in the upcoming times. Ethereum recent times has managed to show up with important breakouts above the previous all-time-high and managed to advance within the new all-time-high-region forming new highs within the structure to the point now showing up important signs that firstly should not be kept by side here as I discovered an important formation that can firstly lead to initial re-tests and alignments of previous support/resistances, therefore I detected all the important levels and likely destinies we should consider.
Structural Developments:
As when looking at my chart we can watch there how Ethereum is now forming this decisive ascending-wedge-formation marked in my chart with the blue boundaries and the coherent wave-count within the formation almost already completely finalized with all waves. Now currently Ethereum is about to test the lower boundary of the formation again and when this boundary does not hold this will lead to the final completion of the wedge-formation and activation of downside targets as seen in my chart within the 1590 level marked in blue from where a potential stabilization can show up with Ethereum building up and holding the support sustainably to test upper levels anew.
Upcoming Determinations:
Taking all these factors into consideration Ethereum is in a formation where it can move minimum into a more protracted correctional movement when the formation finalizes and activates the targets however this does not mean Ethereum is completely bearish as the more global perspectives are still pointing to a bullish preference within Ethereum, this is why Ethereum especially has the ability to form new bullish potentials when it manages to rightly stabilize within the given supports and do not increase with bearish price-action again, for now, it will be necessary to elevate how the formation finalizes before finally moving into this direction, it will be an interesting development ahead.
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 markets.
Welcome to this analysis about Ethereum, we are looking at the 2-hour timeframe perspective, the recent events, the established formational structure, and what we can expect in the upcoming times. Ethereum recent times has managed to show up with important breakouts above the previous all-time-high and managed to advance within the new all-time-high-region forming new highs within the structure to the point now showing up important signs that firstly should not be kept by side here as I discovered an important formation that can firstly lead to initial re-tests and alignments of previous support/resistances, therefore I detected all the important levels and likely destinies we should consider.
Structural Developments:
As when looking at my chart we can watch there how Ethereum is now forming this decisive ascending-wedge-formation marked in my chart with the blue boundaries and the coherent wave-count within the formation almost already completely finalized with all waves. Now currently Ethereum is about to test the lower boundary of the formation again and when this boundary does not hold this will lead to the final completion of the wedge-formation and activation of downside targets as seen in my chart within the 1590 level marked in blue from where a potential stabilization can show up with Ethereum building up and holding the support sustainably to test upper levels anew.
Upcoming Determinations:
Taking all these factors into consideration Ethereum is in a formation where it can move minimum into a more protracted correctional movement when the formation finalizes and activates the targets however this does not mean Ethereum is completely bearish as the more global perspectives are still pointing to a bullish preference within Ethereum, this is why Ethereum especially has the ability to form new bullish potentials when it manages to rightly stabilize within the given supports and do not increase with bearish price-action again, for now, it will be necessary to elevate how the formation finalizes before finally moving into this direction, it will be an interesting development ahead.
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 markets.
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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.