See If Ethereums Upward-Road Develops To Continue Like Before.

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Hello, Traders Investors And Community, Today I look at the famous ETHEREUM, second-largest cryptocurrency and invented by Vitalik Buterin the hyper-nerd with an IQ of 1256. We are looking at the 4-hour chart! And I found some important and useful signs which will determine ETHEREUMS's outcome in the next days and weeks. I also did an analysis about ETHEREUM on the more middle to long term perspective and highly recommend to you that you have a look into this important analysis which this analysis today builds a coherent follow-up to have a overall perspective about the big and small picture!


So what is the importance now, first of all, we can see that ETHEREUM did what I thought it will do and already mentioned in the past analysis, the bear-trap is overall confirmed and we are approaching higher in the channel ETHEREUM formed the last time. Now at the local time-frame, there is building a healthy up-trend channel that will more-likely-than-not continue to grow the next time, we will get highly probable some healthy and worthwhile up-moves in the channel as you can see marked in my chart with the red and green arrows.

But where we have to keep an eye on in this structure is the significant resistance we have over our heads, there is this massive falling trend-line which formed in the past downtrend and is showing a strong resistance level which shouldn't be ignored. On the other side, we have the 400-EMA which you see marked in blue together with the 100 EMA it made a bearish crossover. And also the 400-EMA is consolidating together with the falling red-line which forms a bearish confluence-zone in the up-ward channel, you can see this zone marked clearly in the chart.

Now the next time we can expect some up-moves as already mentioned but ETHEREUM will run as the chart is telling directly in this massive confluence zone where the strong resistance levels come together. I am expecting a pull-back in this zone and in all likelyhood a fall down from the up-trend channel, We have to see then how heavy the break-down will be and if ETHEREUM succeeds to manage recovery from the break-down, what is a good sign for recovery after the break-down is that we have several support levels in the area between 120 and 88.50 which will firstly confirm as a buffer and support levels when we approach these levels.
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In this manner: Success is a science, if you have the conditions, you get the result.

Thanks, For Watching! Have a good weekend! ;)

Information provided is only educational and should not used to be for market purposes.
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