Ethereum, Develops Broadening-Wedge, These Are Objections!

Hi my friends,

Welcome to this analysis about Ethereum, we are looking at the 30-minute timeframe perspective, the recent events, the established formational structure, and what we can expect in the upcoming times. As already mentioned in previous analysis Ethereum is trading within this main ascending-distribution-accumulation-channel where it will move into the distribution range within the next times. In the more local timeframe perspectives, I discovered an other decisive formation Ethereum is forming that will determine the destinies firstly on the local timeframe perspectives, therefore 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 now we can watch there how Ethereum is establishing this main broadening-wedge-formation marked with the boundaries in blue, within this formation, Ethereum already completed the wave-count and recently bounced above the upper-boundary to close there and consolidate, this is now the right set-up for further continuations to the upside. When Ethereum breaks out above the orange box as it is seen in my chart the main upside-targets will be pointed within the 2100 level from where the situation needs to be elevated anew. What is likely in this case is that Ethereum firstly reverses and shows up to lower levels which should not be underestimated here also as Ethereum has the distribution-zone lying there I mentioned in previous analysis already. For now, it will be important how Ethereum manages the further developments and approach of the target-zone, it will be an interesting development.

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.