Welcome to this analysis about Ethereum , we are looking at the 4-hour timeframe perspectives. Since Ethereum managed to somewhat show up with these initial bounces to the upside it did not yet fully convert this into a sufficient reversal however as I discovered it established this major descending-channel-formation marked with the black boundaries and the coherent wave-count within the formation almost completely finished with the waves A to C and is now testing the upper-boundary of the channel-formation, after a consolidation below this boundary as it is shown in my chart this is likely to lead to a breakout when Ethereum moves on with further bullishness, when this likely scenario emerges the further resistances lying higher in the structure will be tested, therefore it is highly necessary that Ethereum does not show up with increased bearishness that can invalidate the determined continuations.
In this manner, thank you for watching the analysis and great contentment for everybody supporting, all the best!
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Information provided is only educational and should not be used to take action in the market.