ETHEREUM, Massive FORMATION Likely To SHIFT DYNAMICS!

26 בפבר׳ 2022Hello,

Welcome to this analysis about Ethereum on the 4-day timeframe perspectives. In recent times the Cryptocurrency Market Space has moved into important watershed moments in which we need to determine the appropriate destinies with the given indications and prospects. There is an increasing regulatory eagerness that is projected onto the Cryptocurrency market while it seems that there are building two parties, those who want stronger regulation of Cryptocurrency and even seize it much more as it is seen till now while there are those who want to support the Bitcoin continuation of technological development and are positively directed towards Bitcoin adoption and legal tender developments as we recently see with for example Mexican senators considering a legal tender adoption like it has been seen in El Salvador while there are other countries considering this fundamental step as well. In this mixed signals environment, it is highly necessary to also consider the technical factors to come up with a realistic perspective on where the market is heading.

As when looking at my chart now we can watch there how Ethereum is building this massive ascending-triangle-formation with the coherent wave-count within the formation and the waves A to D almost already completed. Now as seen in my chart, the fact that Ethereum manages to initially bounce within the lower boundary and mark the 150-EMA together with the lower boundary as an important support zone increases the likelihood that the wave E emerges from this point on which will complete the whole wave-count and move into the upper boundary of the whole ascending triangle formation from where a pullback is highly likely as the wave count will be completed and Ethereum has massive resistance in this zone. Once these pullbacks are settled and Ethereum heavily increases with bearish volatility this will complete the whole formation with a breakout below the lower boundary and a continuation is likely to take place. Taking all these factors into the consideration here it is highly urgent to in any case do not underestimate the bearish scenarios that are set up here, in this determination it is pivotal that we are prepared for these scenarios to do not get overwhelmed when they emerge. It does not mean Ethereum has no bullish potential on more long-term perspectives from a fundamental standpoint however technically we need to appropriately measure the signals in the right manner, therefore it will be an important and decisive development ahead.

In this manner, thank you for watching the analysis, all the best!
"Genius is eternal patience."

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