Ethereum, Developments In Channel, Important Zones To Consider!

Hello Traders Investors And Community,

Welcome to this analysis about Ethereum, we are looking at the 6-hour timeframe perspective, the recent events, the established formational structure, and what we can expect in the upcoming times. Since Ethereum showed up with heavy bearish declines to the downside it now somewhat managed to recover although these recovery moves aren't completely bullish there are still several smaller pullbacks in the structure that should firstly not be kept by side however Ethereum can emerge with further increased bullishness when it manages to show up with the right price-actions, therefore I detected all the important levels and likely destinies we should consider within the established structure and upcoming movements ahead.

Structural Developments:
As when looking at my chart now we can watch there how Ethereum developed this main ascending-channel-formation marked with the boundaries in blue, besides that Ethereum has a coherent wave-count within the formation in which it already almost completely finished the waves A to C in the structure and now with the wave D about to complete the next times, this wave D ending will move directly into this main back-up-cluster marked in blue in my chart where several supports lying and therefore Ethereum has a great potential given for a bounce within this zone. When such a price-action happens and Ethereum bounces decisively this will be the major origin of the final wave E to the upside which will complete the whole wave-count.

Upcoming Determinations:
Now, when Ethereum manages to bounce within the structure and move on with the wave-E-developments as suggested this can lead to an initial breakout above the main all-time-high-condition-resistance and when this happens it has to be elevated how Ethereum possibly manages the stabilization above this zone as it is marked in my chart, when Ethereum then manages a sustainable consolidation and confirmation of the level as support such a price-action can lead to an upside breakout above the upper boundary of the ascending-channel-formation and when this happens Ethereum will continue with the wave-E-extension above the boundary with further levels to be pointed, it will be an interesting development 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.