Ethereum, Channel-Breakouts To Emerge!

Hello,

Welcome to this analysis about Ethereum and the 4-hour timeframe perspective. As when looking at my chart we can watch there how Ethereum has now developed a decisive structure with this major descending-channel-formation and the coherent wave-count within reaching from A to C that has already been completed. As Ethereum now with the finalization of the wave-C moved into the ascending-trend-line matching together with the lower boundary of the descending-channel-formation a bounce in this structure occurred from were on Ethereum moved on to form an initial wave-A of this wave-count to the upside. The wave-B is now developing in a shape of a bull-flag and once this bull-flag has been completed Ethereum will have the abilities to approach the main remaining upper resistance-zones marked in my chart in red within the ascending-resistance-line. Once Ethereum reached out there it will be decisive on how a pullback from there emerges which is likely, after that Ethereum needs to show if it manages to hold the structure or firstly pulls back again, it will be an important determination ahead.

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