In C major, the piece is in ternary form: A[a(measures 1-8) + a1(measures 9-16)], B[b(measures 17-20) + b1(measures 21-32)], A[a(measures 33-40) + a1(measures 41-48)].

The theme ascends from E to F to G every four measures, then descends after peaking at measure 7. The nuance expressing this elevation and the broad nature of the theme may be connected to the work's title. The descending line of the A1 section includes borrowed chords, such as dominant seventh chords in the subdominant key (IV) and secondary chords like IV, making it colorfully beautiful. The middle section is marked poco scherzando (somewhat playfully), requiring a more agile expression. Furthermore, at measure 33, the marking grazioso (gracefully) appears, which was not present at the beginning. Since the initial tempo marking is Allegretto grazioso, there are various interpretations as to whether this indicates a return to the original atmosphere, or if it calls for an even greater (or deliberately enhanced) sense of grace.