Ethereum, Second Validations Indicating Next Approachments!

21 oct. 2020

Hi my friends, Welcome to this update-analysis where we are looking at the Ethereum 1-Hour Timeframe Perspective, the recent events, the current formational structure, what we can expect the next times and how to possibly handle the upcoming situations in the right manner. Since I mentioned that it is not far away from the major channel-breakout and that Ethereum will do this after a smaller consolidation Ethereum finally approved the channel breakout with a decisive volatile move also confirming the upper boundary with a pull-back as expected, if you did not seen this analysis already I highly recommend it to watch for you to have the proper full-depth-overview, now after the first upper targets have been reached it formed a new pullback to the upper boundary again and also bouncing within the 12000-EMA a second time which is the magic EMA in this structure, now this second bounce finally approved the upper boundary with a great volatile move and now there are some conclusions which have resulted out of it.

What is also now important here is that Ethereum just tested right recently away this descending-trend-line marked in dashed grey as this trendline already tested and pulled back this can happen also again here with a move to the Fibonacci-cluster marked in my chart in blue coherently matching with the 200-EMA also in blue and the wave-count established. When this Fibonacci-cluster holds and Ethereum bounces properly from there this will activate the next movements and show up with a first reach of the channel-breakout-target and after that, a testing of the upper resistance marked in red, in this case, it is really important that Ethereum properly bounces from the Fibonacci-cluster and do not falls below this because it can invalidate the further movements, however, this is currently not the most likely expectation. When Ethereum forms the movements as expected and reaches the continued targets it has to be elevated how it furthers from there and if there can be a continuation of the bullish pace or firstly a pull-back expected, it will be definitely an interesting development.

In this manner, thank you, everybody, for watching, support is very good, have a good day and good trading, all the best my friends!
"Good luck is when opportunity meets preparation."

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

21 oct. 2020

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Initial Analysis: