Welcome to this analysis about Ethereum and the 2-day timeframe perspectives. Ethereum in the recent times developed important structures especially with a bullish edge and in this case on the more global timeframe perspectives I discovered a major important formational structure on which Ethereum can build up and continue with a decisive breakout. Therefore, as when looking at my chart we can watch there how Ethereum has now formed this huge triangle-formation marked with the boundaries in blue, in this triangle-formation Ethereum has a coherent wave-count with the waves A to C already completed and with the wave D currently in the development to follow up with the wave E after it. Once the wave E has finalized this will be the completion of the whole wave-count after which the final breakout will emerge. As Ethereum is now still strongly holding above the 50-EMA in red as well as the 25-EMA in green a bullish breakout, in any case, is more likely than the bearish one, in a concrete sense the bullish breakout has a higher possibility of 75% compared to the bearish one of 25% this is a lot, all most three times more. Therefore it will be important on how Ethereum finalizes the triangle here and how the final breakout can emerge, when these informations and price-action-developments are given further assessments can be made.
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Information provided is only educational and should not be used to take action in the markets.
you need to trade in the direction of the steeper line since both lines aren't even so you must follow the bottom line as the potential direction for break out
born2bwylde2005
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if the triangle was symmetrical it would be a price continuation which its not, it has a bearish character to it. also if you revert back to older price it has yet to retrace back to lower levels price will move to the lower prices due to the bottom line being more steep then that of the upper triangle line.
ForexTrendline
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lovely job!
sadovski32
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Eth will go up as the majors pushing the market up Q4 is upon us, don’t forget to book profits
owaisted
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you were spoton on this one. too bad for me that i logged 12 hours too late
oloumi
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Nice Analysis
DaniiWood
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exactly my thoughts
bayinnah12
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on the money :)
3809a18b5fcc49de89b212a85501ab
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uptrend is current. so 75% will happen. don't go against the market trend.