Ethereum, Exponential Since Breakout, Here Is What To Look At!

Hello Traders Investors And Community, welcome to this update-analysis where we are looking at ethereums daily timeframe perspective, the events occurred since the higher possibility played properly out in the schedule, the current importances of price-levels and what we can expect from this pair in order to act accordingly and be prepared for the volatility in the cryptocurrency space in order to take appropriate actions. Since ethereum has confirmed the more probably 75 % probability which I mentioned in previous analysis where ethereum was still trading in the huge descending-channel-formation it has formed an exceptionally high volatile exponential growth to the upside where it even does not shows up any weakening since which can lead to a reversal, but this is what we should consider as sophisticated traders while the market is overbought this can inevitably lead to a smaller correction when not bigger pull-back, as the quote of a smart investor says: "Be fearful when others are greedy and greedy when others are fearful."

When looking right-away on my chart you can watch that ethereum just highly moved into the bullish direction since it formed the breakout and confirmation above the important falling upper boundary marked in blue which I pointed out in my analysis was a fundamental step to take out in order to move into the bull zone marked in green inappropriate for a bullish continuation, this 75 % probability now played out and turned profitable also for us in the elite channel. Furthermore, the EMAs have successfully formed a bullish EMA-crossover and provided the EMA-signal in this structure which confirmed the overall breakout. These factors led to a strong bullish upmove which is still holding on and it was somewhat a healthy upmove as this was not the irrational growth to the upside seen in other cryptocurrencies which were not technically meaningful backed.

Initial Analysis According The Subject (Daily Timeframe):

The next times we can expect ethereum to move higher in the structure but it is very very important to note that ethereum has still strong resistance levels above which it has still not taken out yet and where it also formed heavy bearish moves in the past, the upper resistance you can watch marked in blue between the 360 and 370 level serves as such an strong resistance and therefore it is within the possible spectrum that ethereum formes a reversal and correction when not bigger pull-back here. When ethereum is strong enough it can also shot through this resistance but this possibility is at the moment not the biggest, a pull-back before this happens is much more likely to happen, when ethereum forms the more likely pull-back it has potential to back-up in the back-up-zone which is supported by the Fibonaccis and the orange EMA marked in my chart.

This situation is a situation where ethereum has shown great upside movements in a short amount of time but it is also a situation where the market is overbought on the short-term which can also lead to a reversal in the short-term that can increase into the middle when not long-term. This means we should be prepared for this and do not get surprised when this happens. The cryptocurrency market is in a state where bitcoin has moved above its long-lasting consolidation which is a good sign but this does not mean the whole market is completely bulllish and there is no possibility for pull-backs. In order to anticipate rightfully, we should also keep this with us and do not fall for the speculative approach seen too often these times thinking the market will just go on forever in the appropriate directions where big players taking their profit out of it.

In this manner, thank you for watching, support for more market insight, have a great day, and all the best to you!
The market is a procrastinator looking forward in prospect

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