as already mentioned Ethereum established this major massive broadening-wedge-formation with the coherent wave-count within the formation where it managed the move above the upper-boundary recently faster than expected. Now as this has occurred there are some important price-actions Ethereum can show up with to fully confirm the broadening-wedge-formation and also the formation forming above it playing into the confirmational scenario, therefore I detected all the important levels and likely outcomes we should consider at the moment and upcoming times.
When looking at my chart you can watch there Ethereum has now formed the triangle-formation marked in orange with the red lines above the upper-boundary of the massive broadening-wedge, what is also important to note here is that Ethereum trades above the 15-EMA in red where it is building coherent support together with the boundary. The triangle-formation Ethereum forms now is a good confirmational formation that can show further movements when it confirmed properly which will happen when Ethereum moves above the upper-boundary of the triangle with a decisive volatile move as it is marked in my chart, when this happens rightly Ethereum has the potential to move on further which will come to the crucial test of the upper resistance marked in red where the growth zone is lying above, when Ethereum manages to confirm above this level and close there this will indicate further continuations above as Ethereum is now fully within the growth zone marked in green with solid continuation possibilites.
The next times Ethereum has to show how it manages to confirm the formation and show further conclusions, when these show up as suggested and with the right pace there are some very prospects lying which Ethereum can show up with and also activate upper broadening-wedge-targets. To consider the whole movements it is extremely important that Ethereum holds the support and does not close below the upper-boundary again because this can possibly invalidate upcoming bullishness, for now, it is important to elevate the confirmations.
In this manner, thank you, everybody, for watching, have a good day as well as good trading, all the best!
“Miracles tend to happen outside the usual experiences.”
Information provided is only educational and should not be used to take action in the market.
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