Elliott waves crypto analysis – We’re long towards 467.19.


We're long towards 467.19.

Wave Analysis

After breaking above the upper trendline acting as a resistance to the falling channel formation, Ethereum rallied slightly to the upperside before correcting itself to the lowerside. We expect the rebound from the now supportive trendline to have marked an end to the corrective wave (b), that the current bullish price rally is the unfolding of the impulsive wave (c) to the upperside and should break above 467.09 further upwards. If you’re a bit skeptic to buy this crypto now, you could wait for a break above 467.19 to buy Ethereum.

Trade Recommendation

We’re long towards 467.19.

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