Ethereum, Preliminary Set-Up For A Channel-Breakout-Attempt!

Hello Traders Investors And Community,

Welcome to this analysis about Ethereum, we are looking at the 4-hour timeframe perspective, the recent events, the established formational structure, and what we can expect in the upcoming times. The divergences between the individual currencies within the cryptocurrency market is increasing as the market is not what it was back in 2017 where just everything went into one direction there are coins now with highly differential set-ups and formations forming within the market, these differences are important to assess when moving into the market especially when establishing a potential arbitrage within the market, therefore I detected the important levels and likely destinies we should consider here.

Structural Developments:
As when looking at my chart now we can watch there how Ethereum has developed this major massive ascending-channel-formation marked in my chart with the black boundaries and also with the coherent wave-count within the formation almost already completing all waves from A to D and now about to form the wave E in the structure that can move into a protraction when showing up with the right price-actions, there we can expect the wave B to form as a sub-wave within the structure testing the levels of support in the structure given by the confirmational-bounce-cluster marked in my chart where the 100-EMA in red as well as the 85-EMA in green lying which are solid reference-points for the bounce to the upside.

Upcoming Determinations:
Ethereum is in a situation where it has shown up with initial strong volatility above the previous all-time-high forming new highs in the schedule and advancing further, now it is the time for Ethereum to confirm this pace and hold it further to do not show up with the increase of bearishness that will invalidate the further conclusions. Therefore it is necessary to await the proper validations and confirmations ahead next time to finally move in the right direction. When Ethereum manages to show up with the right price-actions here and breaks out above the upper-boundary this price-action will point to upside-targets lying above the 2200 level, it will be an interesting development and journey ahead.

In this manner, thank you for watching the analysis, many thanks for everybody supporting, have a good time and trading, all the best!
"There are many roads to prosperity, but one must be taken."

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