ETH, This Descending-Wedge A Determining Factor Upcoming!

Hello,

Welcome to this analysis about Ethereum, we are looking at the 2-day timeframe perspectives, the recent events, the established formational structure, and what we can expect in the upcoming times. Ethereum has formed some interesting signs global as well as locally. As Ethereum locally already completed channel-breakout that I mentioned and showed up with the bullish volatilities to reach important targets there are some important factors here that will determine further upcoming developments, therefore I detected all the important levels and considerable scenarios we should consider with Ethereum on this global timeframe perspective.

Structural Developments:
As when looking at my chart now we can watch there how Ethereum formed this major descending-wedge-formation in the structure. Besides that Ethereum has this ascending-trend-line marked in blue holding the price-action above the trend-line. Also significantly to consider here is that Ethereum holds above the 200-EMA in red and the 160-EMA in green, two important reference-points for the price-action above. Furthermore, what is a very meaningful factor here is that Ethereum recently emerged with this main MACD-bullish-crossover in the structure whereas the last one is already some time in the past. These factors give a good edge for further sustainable continuations.

Upcoming Determinations:
Taking all these factors into the consider it is likely that Ethereum will finalize the whole descending-wedge-formation with the wave E in the structure with either bouncing in the range between 2000 and 2200 to complete the wave-count and finalize the formation or with Ethereum firstly approaching the lower boundary once again where the wave E finalizes and Ethereum sets up to complete the descending-wedge. Furthermore, there is a paramount resistance still in the structure at the 3625 level marked in orange, when Ethereum reaches out in this zone a first pullback will be highly likely, what comes after that then will be important with Ethereum either managing to stabilize in the structure or pulling back more heavily, these are the scenarios that need to evolve then when Ethereum approaches the given zones with the emerged developments, it will be an important and interesting development ahead.

In this manner, thank you for watching my analysis about ETHEREUM and the important factors on the global perspective that should be considered, will be great when you support it with a like and follow or comment, great contentment for everybody supporting, all the best!
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Information provided is only educational and should not be used to take action in the markets.