ETHEREUM, Massive Formation With Huge Breakout Potential!

Hello Community,

With the end of the year 2022 many interesting setups within the cryptocurrency market are present and as I spotted the most important ones Ethereum is one of the setups which I want to present here. Already within the past years, the cryptocurrency has developed several times with a period of increased volatility during the holidays and continuously into the first month of the first quarter of the new year. Therefore, empirically speaking there is an increased high possibility given that the cryptocurrency market shows up with similar volatility developments for the end of 2022 and the beginning of 2023. As I analyzed Ethereum I realized that this theory is likely to convert into reality when the technical confirmations show up for Ethereum.

When looking at my chart now we can watch there how Ethereum is building this huge descending triangle formation, such a formation is known to convert into a huge breakout and a phase of intense volatility once the formation has been completed. Within this triangle Ethereum is building the coherent wave-count reaching from A to E and in this case, now Ethereum already completed the waves of A to C which is already a positive sign and a step in the direction of the completion of this major triangle formation. Once Ethereum also completed the waves D and E this will be part of final completion and once Ethereum bounced above the upper boundary of the triangle this will activate the target-zones in my chart, from there on further examinations are a worthwhile solution to be made.

In this manner, thank you everybody for watching, Let's move forward together.

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