Ethereum, Establishes Wedge-Formation, Important Scenarios!

Hi,

Welcome to this analysis about Ethereum, we are looking at the 6-hour timeframe perspective. In recent times Ethereum managed to form several higher all-time-highs however it moved into an overbought condition that should not be underestimated and also already has shown up with several bearish pullbacks in the last times that can indicate a bigger reversal. Now in the structure, Ethereum has formed this main ascending-wedge-formation with the wave D about to move and test the lower boundary of the formation from where the wave E will likely have its origins, the crucial part will come when Ethereum approaches the upper resistance anew as this can lead to a bearish completion of the formation when it closes below the boundary as shown in my chart.

In this manner, thank you for watching the analysis and great contentment for everybody supporting, all the best!
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