Ethereum, Potential Flag-Formation With These Developments!

Hi,

Welcome to this analysis about Ethereum, we are looking at the 4-hour timeframe perspectives. In the last time Ethereum moved on to a more protracted stabilization in the structure, after such movements an increased volatile move either to the up or downside will set place and as I discovered now Ethereum is forming some interesting signs that can possibly indicate an upside breakout, therefore it is necessary that Ethereum shows up with the right price-actions. As when looking at my chart we can watch there how Ethereum has developed this main ascending-channel-formation with the coherent wave-count within the channel and the was A to C in the channel marking the major wave B within the wave-count. Besides that Ethereum has this preliminary important local descending-wedge-formation and when this formation completes bullishly to the upside this can be the appropriate source for further continuations however after this it will be highly necessary that Ethereum finally closes above the upper-boundary because before this does not happen the formation can still invalidate and when it happens the main wave C will form to test the upper levels.

In this manner, thank you for watching the analysis and great contentment for everybody supporting, all the best!
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Information provided is only educational and should not be used to take action in the market.