Welcome to this analysis about Ethereum , we are looking at the 4-hour timeframe perspective, the recent events, the established formational developments, what we can expect in the upcoming times, and how to possibly handle these situations in an appropriate manner. As Ethereum has before the current formation formed showed up with strong upside and exaggerated in which it also managed to form a new all-time-high it now initially pulled back from there which was good for us to achieve profits on the short-side, now as this is done I discovered the underlying formation Ethereum is now establishing that will be crucial for the next destinies, it is highly important to elevate the proper validations upcoming times.
As when looking at my chart we can watch there how Ethereum is now developing this huge head-and-shoulder-formation with the neckline marked in blue and the left shoulder as well as head already completed in the schedule, the recent times Ethereum is about to form the right shoulder within the structure in which it already moved to the upside and directly into the descending-resistance-line marked in my chart in red from where a pullback to the downside is highly likely which should also be expected here, this pullback will confirm to the wave-development Ethereum is currently within with the wave C remaining as it is marked in my chart, this wave C will first move into the neckline from where the further conclusions will be made.
Taking all these factors into consideration Ethereum will move on with the final conclusions once the right shoulder has formed and moved into the decision-zone marked in my chart with the orange box. Basically, there are two possible outcomes after this happened and it is of high importance to wait on the proper confirmation then nevertheless with the current structure established the scenario has a higher possibility than the however this needs to be rightly validated and it will be crucial how Ethereum moves into the decision-zone and shows up further from there, till then we need to keep patient and prepare on the incoming changes in direction or continuations ahead to take appropriate action.
In this manner, thank you for watching the analysis, have a good day, great contentment for everybody supporting, all the best!
"Trading effectively is about to assess possibilities, not certainties."
Information provided is only educational and should not be used to take action in the markets.
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