Hello,

Welcome to this analysis about Ethereum and the daily timeframe perspectives. Since the Cryptocurrency Market recently has shown up with determining increased bearish volatilities the whole market interface has altered and now it will be decisive on how the market moves on further as a whole and especially in which direction it will move on. Therefore Ethereum is an important symbol as it is the second-largest Cryptocurrency within the market and in this case, I detected the pivotal determinations we need to consider here. As when looking at my chart now we can watch there how Ethereum together with these recent bearish declines and the previous price-action has begun to form this major ascending-channel formation in which it has a coherent wave-count with the waves A to C already completed. Now as Ethereum moves on further with the wave D in the structure there is a high likelihood given that Ethereum approaches the main remaining support-cluster within the lower boundary marked in blue in the next times. From there on Ethereum will basically complete the whole wave-count with the wave E moving into the upper boundary again, if Ethereum then pulls back heavily from there on this will lead to continuations and the whole formation will be completed with a breakout below the lower boundary from where Ethereum will activate the lower target-zones showed in my chart, once these zones have been reached the situation needs to be elevated again and Ethereum needs to show in which direction it heads, it will be an important development.

In this manner, thank you for watching the analysis, all the best!
“Good fortune is when opportunity meets preparation.”

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