ETHEREUM, Pivotal DOUBLE-BOTTOM About To Complete NEXT TIMES!

Hello,

Welcome to this analysis about Ethereum and the 12-hour timeframe perspectives. Ethereum in recent times increased astonishingly with bullish volatility and upside rising in the schedule, especially as the decisive London hardfork emerged this was a driving factor for Ethereums upside developments. It is necessary to distinguish Ethereum from other cryptocurrencies in the market as not every is building such formational structures with bullish alignments to build upon together with the fundamental driving factor of the hardfork, as the divergence between the currencies increases more and more these need to be assessed individually, so also with Ethereum. Therefore I discovered all the important levels and upcoming determinations.

Structural Developments:
As when looking at my chart we can watch there how Ethereum mainly increased with bullishness in its structure and moved on to test the crucial neckline which is also resistance. The underlying formation in this whole structure, that I already mentioned before is a double-bottom-formation with the two bottoms formed as marked in my chart. Now the last price-actions that need to show up for Ethereum sufficiently completing this whole formation is an appropriate stabilization in the structure with an ongoing breakout above the upper neckline marked in black. What is also good here is that Ethereum marked above the 45-EMA in red and above the 20-MA in blue, with these moving averages previously also forming a golden cross.

Upcoming Determinations:
Taking all these factors into the consideration now Ethereum is in a structure where it has the ability to complete this major double-bottom-formation in the next times when the right price-actions show up. In this case, a bounce off the main local support-range marked in my chart with the blue box matching together with the moving averages will be a great sign for a final breakout above the upper neckline. Once Ethereum bounced in the structure and is finally marked above the neckline the whole formation will be completed and Ethereum will activate the upside targets with an initial target at 3500 and when Ethereum further increases bullish signs once this level has been reached the next zone to be pointed is the all-time-high zone, it will be an interesting development ahead.

In this manner, thank you for watching my update-analysis about ETHEREUM and its massive double-bottom-formation that has the ability to complete in the near future, support the analysis with a like and follow or comment for more market insight!
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Information provided is only educational and should not be used to take action in the market.