Ethereum, Movements In Channel, Important Considerations!

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. Since Ethereum has shown up with serious bearishness to the downside it has somewhat found support within the structure from where it has slowly built up however not yet completed a full reversal, in this case now I discovered a decisive formation Ethereum is forming that will be important in the upcoming determinations and it will be necessary to elevate how Ethereum approaches the certain levels and scenarios before coming to a final conclusion, therefore I detected all the important levels and likely destinies we should consider.

Structural Developments:
As when looking at my chart now we can watch there how Ethereum is about to develop this main ascending-channel-formation marked in my chart in blue, within this formation Ethereum has the coherent wave-count with the waves A to C already completed and now with the wave D about to develop, this wave D will run into the lower-boundary and the main support lying there marked in my chart in orange, in this case, a bounce from the support is very likely which will also be the origin of the wave E to the upside finalizing the whole wave-count. This wave E will run directly into this remaining resistance-cluster marked in my chart in red from where the further conclusions either with the wave-E-extension or pullback will be made.

Upcoming Determinations:
Taking all these factors into consideration Ethereum with a high likelihood will continue with the established wave-count and when this wave-count completed Ethereum has either the potential to show up with a wave-E-extension above the upper-boundary when Ethereum manages to form the breakout or otherwise pullback from the resistance-cluster which is more likely as the resistance, for now, is just too strong and a pullback, therefore, more possible. When such a pullback happens Ethereum will continue bearishly firstly below the lower-boundary. These two upcoming scenarios should be elevated and it is necessary to elevate the proper confirmations before finally moving in the right 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.