Ethereum, Approaches Upper-Triangle-Boundary, Main Scenarios!

30 Mar 2021

Hello Traders Investors And Community,

Welcome to this analysis about Ethereum, we are looking at the 12-hour timeframe perspective, the recent events, the established formational structure, and what we can expect in the upcoming times. Since the former analysis Ethereum continued with the wave-count within the major triangle as expected and now initially completed the waves A to C, if you did not saw this analysis already I highly recommend it to watch to have a full-depth-overview. Now as Ethereum has shown up with these alignments I discovered the two main scenarios likely to happen the next time, also the possibilities have changed since the former analysis, therefore I detected all the important levels and likely determinations.

As when looking at my chart now we can watch there how Ethereum approached the upper boundary of the formation, basically this boundary is still resistance however the pace and momentum with which Ethereum approached this boundary was certainly strong. There it is possible that Ethereum has the ability to move through this resistance and finally complete the triangle with the ABC-wave-count within. Otherwise, when this does not happen and Ethereum firstly bounces back from the boundary this will lead to the development of the wave D and E within the triangle that will protract the wave-count and finalize it before a final breakout can emerge. Mainly the possibilities on the bullish side have increased to an overall possibility of 75% for the bullish breakout which should be expected either with the immediate breakout or with the breakout after Ethereum completed the ABCDE-wave-count. These two scenarios should be elevated before the final direction has confirmed, therefore it is necessary to keep patient and elevate these scenarios rather than rushing into trades that do not satisfy.

Thank you everybody for watching the analysis, great contentment for everybody supporting, have a good day and good trading, all the best!
"Many ways lead to the horizon."

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

30 Mar 2021

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Origin-Analysis:

30 Mar 2021

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Former Analysis: