VincePrince

Ethereum, Decisive Scenarios To Consider On The Weekly Basis!

COINBASE:ETHUSD   Ethereum / U.S. Dollar
Hi my friends,

Ethereum is forming some interesting movements not only on the smaller timeframes but also on the bigger timeframes such as the weekly timeframe where it is moving in two ascending-channel-formations, the one is more local and steeper and is marked in black where the immediate trend is lying and the other is more global and flatter where the huge wave-cycle is lying. It has to be noted that Ethereum is moving a massive consolidation here already for a long time where it will show a strong breakout sooner or later. As Ethereum is now approaching the middle-line of the steeper ascending-channel-formation since some weeks this will be an important reference point to further continuations besides that there is the 10-EMA which is holding the weekly trend to the upside here. In comparison to bitcoin this structure is very differential as Ethereum recovered better from the heavy corona breakdowns seen this year and managed to move higher above these established pre-corona highs in the structure.

On the more middle-term, Ethereum is building this triangle-formation you can watch marked in the structure in my chart with the orange triangle which will show a breakout sooner or later either to the up or downside, now as the 10-EMA in green and the middle line of the channel is still holding we can also expect this to go on till there is a decisive move, taking all these factors into consideration the bullish case moving above the upper boundary and determining a new higher high is at the moment more possible than the bearish case that Ethereum breaks below and tests the lower boundary as there is still some solid support lying which can increase the bullish pace here scenario A should be more expected than scenario B. This scenario A will show up when Ethereum manages to move above the upper boundary with a decisive move which will increase bullishness till it tests the upper boundary of the steeper ascending-channel-formation which will lead to a C-wave extension of the bigger wave-count as it is marked in my chart, it will be interesting how Ethereum proceeds further here.

In this manner, thank you everybody for watching, have a good day and weekend, feel free to support and all the best!

Information provided is only educational and should not be used to take action in the markets.
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Comments

Post your comments, questions, and ideas about ETHEREUM here.
+1 Reply
Topdawg6591 VincePrince
@VincePrince, Thank Vince for your personal but exceptional views on Ethereum's near future movements. I love riding the Bull..😉
Reply
VincePrince Topdawg6591
@Topdawg6591, Thank you, friend, we can see a good outcome for bulls when Ethereum manages to hold the support further.
+1 Reply
Still bullish on the weekly chart. Thanks for sharing your idea 🐻‍❄️😃
Reply
Thanks Vince. That 420 will be great already.
Reply
@Rule72, Thanks for sharing Rule, it will be an interesting development.
+2 Reply
Rule72 VincePrince
@VincePrince, I am going to stay near the screen for a while and cannot wait to see where we will end up.
Reply
perfect analysis! 🦐👍🏻
Reply
VincePrince plancton0618
@plancton0618, Thank you Plancton! 👋
+1 Reply
plancton0618 VincePrince
@VincePrince, I have the same same view! You are welcome 🦐
Reply
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