Ethereum, Develops Decisive H-S-Formation, Likely Scenarios!

17 feb 2021

Hi my friends,

Welcome to this analysis about Ethereum, we are looking at the 4-hour timeframe perspective. Ethereum these times managed to advance within the new all-time-high zones and is besides Bitcoin the major currency holding as well the market-cap as also new regions in the all-time-high to establish, in this case now I detected a decisive formation for Ethereum that will lie determining ground in the next destinations, therefore I discovered all the important levels and likely outcomes we should consider with Ethereums established structure and the upcoming movements ahead upcoming times, therefore it is necessary that we do not speculate and wait for the proper validations to show up with in the schedule.

Structural Developments:
As when looking at my chart now we can watch there the major head-and-shoulder-formation Ethereum is building now marked in my chart with the blue neckline and the left shoulder as well as the head already completely formed in the structure and with the right shoulder about to develop in the near terms, after this has been done the final confirmation either to the up or downside will happen and as Ethereum has strong supports within the structure the upside-confirmation has a bigger possibility with 65% than the downside-confirmation with 35%, therefore, the final bullish confirmation should be much more expected than the bearish one.

Upcoming Determinations:
Taking all these factors into consideration Ethereum is in a situation where it will show up with the right confirmation within the next times, therefore it is necessary to elevate it before moving in the direction. When Ethereum shows up with the final confirmation which is more likely the bullish one in this case the projected targets is the range from the head to the neckline to the final breakout above the descending-resistance-line marked in my chart. For now it is important to elevate how Ethereum develops further here and how it manages to move to the upside after that happened, it will be an interesting development ahead.

In this manner, thank you for watching the analysis, many thanks for everybody supporting, have a good time and trading, all the best!
"Trading effectively is about assessing possibilities, not certainties."

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