Ethereum-Update, Continues In Channel, Further Determinations!

Hello Traders Investors And Community,

Welcome to this update-analysis about Ethereum, we are looking at the hourly timeframe perspective, the recent events, the established formational structure, and what we can expect in the upcoming times. Since the previous analysis Ethereum as expected has shown up with the further wave B development into the upper resistance-cluster from where the suggested wave C emerged and moved into the lower back-up-cluster, if you did not see this analysis already I highly recommend it to watch to have a full-depth-overview, now as Ethereum has shown up with these alignments I detected further worthwhile signs important to consider in the upcoming times.

As when looking at my chart we can watch there how Ethereum moved directly into the upper-boundary of the developed channel again which is still a serious resistance that should not be kept by side here therefore it is likely that Ethereum shows up with a bearish pullback to the downside the next times which will then move on with the development of wave E as Ethereum already completed the wave-count. Currently, this is a highly likely scenario and Ethereum will point into the lower levels of support marked in my chart in blue where it completes the whole wave-count and sets up for a potential back-up. When Ethereum then manages to bounce sufficiently within this zone it can also lead to a breakout above the upper boundary of the channel nevertheless, for now, the bearish perspective should not be kept by side and it will be important to elevate how Ethereum approaches the lower supports.

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.

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