Elliott waves crypto analysis – Still bearish


Still bearish

Wave Analysis

Ethereum is still consolidating in between the falling channel formation and is not showing any signs of breaking out of it. As we mentioned previously, as long as the price is held between these trend lines, we expect a possible momentum to the lower side with an ultimate target at 460.31. If this target should be broken, then the price will likely continue to the lower side. The anticipated bearish price rally will be the continuation of the impulsive wave (v) but should not not go beyond 300.00. Any clear break below this handle will push the price further to the lower side.

Trade Recommendations:

Still bearish

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