Ethereum, Volatile Breakout Pointing To The Objections To Reach!

Hello Traders Investors And Community,

similarly to bitcoin ethereum has shown up with some great volatile moves to the upside which where expected as the final C wave should establish and there was still room in the channel, as ethereum now managed to take out the descending-resistanc-line properly and the final C wave has factly established there are some objections currently which need to be elevated. On the more middle-to-long-term-perspective ethereum is still trading within this huge channel-formation which will show the outcome either to the up or downside, therefore I detected the important levels and outcomes we should consider within ethereums current structure establishing.

Structure:
Looking at my chart now you can watch this ascending-channel-formation marked in orange where ethereum forms the coherent wave-count and also confirmed the breakot-channel to the upside origin of the major C wave-extension I also mentioned on the 1-hour timeframe perspective. Now, ethereum has a good potential to continue bullish in the structure now and reach the upper targets properly as the trend is still holding and bullishness is there this will lead to a test of the upper boundary where resistance is lying marked in my chart in red where ethereum has this strong resistance-cluster and also the 50 % Fibonacci-resistance overall making it a strong pull-back zone in this range.

Outlook:
For now it is the best option to do not rush into trades that aren't satisfying when there was not an entry before the moves occurred as we have done this with entering at the 342 level. Now as this is not more possible it is better to wait on the sidelines for the proper opportunities to show up, this is important for trading rather than to fall for the illogical speculative approach seen to often these days. The next times we can expect ethereum to move into the possible short-zone where a pullback is expected. After that it has to be elevated how ethereum move further from this point of view and if there can be a bullish continuation after the pullback or firstly lower levels like the lower boundary to be visited.

In this manner, thank you for watching, good day my friends, and support for more market insight.
"Prospect is the ingredient of good fortune."

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

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Channel Ranges (12-Hour Timeframe Perspective):

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Initial Breakout-Channel (1-Hour Timeframe Perspective):

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Breakout-Channel Confirmed (1-Hour Timeframe Perspective):