Ethereum, In Channel, Potential Breakout, Important Scenarios!

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. As Ethereum in recent times has shown up with highly protracted bearishness to the downside it moved into some important support-zones from where it also managed to bounce initially, now it is the time for Ethereum to approve these bounces and in this case, I discovered a decisive formation Ethereum is forming that can lead to a potential breakout when the right price-action shows up, this is highly important because when it does not show up bearish continuations can also emerge, therefore the upcoming confirmations need to be properly waged.

Structural Developments:
As when looking at my chart we can watch there how Ethereum established this main descending-channel-formation marked with the boundaries in blue. Within this formation, Ethereum has the wave-count A to C already completed and with the ending of wave C moved directly into the lower supports and the ascending-trend-line from where it bounced and tested the upper boundary of the channel. Now the next time a pullback to the ascending-trend-line is highly likely where the major decision-zone is lying marked in my chart with the orange box. When Ethereum manages to bounce sufficiently within this zone it can lead to a great channel-breakout with activation of further continuations otherwise when this does not happen Ethereum will continue with the wave-C-extension when it closes below the ascending-trend-line and in the red zone marked in my chart.

Upcoming Determinations:
Taking all these factors into consideration Ethereum is now in a situation in which it can show up with a solid channel-breakout sooner or later, therefore it is highly necessary that it properly bounces from the suggested support and do not fall below it because then Ethereum will initially visit lower levels from where a potential stabilization needs to be considered anew. Especially the last times have shown one more time how volatile the market is and that it is necessary to properly line-up and be prepared on these circumstances, this means to do not over-speculate the market into a one-sighted direction and also keep the reverse perspective in mind.

Thank you everybody for watching the analysis, great contentment for everybody supporting, have a good day and good trading, all the best!
"Good luck is when opportunity meets preparation."

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