Elliott waves crypto analysis – We’re short towards 321.00


Wave Analysis

Ethereum is still rallying within the falling channel formation. As we forecasted previously, as long as the price remains within the falling channel formation, we expect a possible momentum to the lower side. Just yesterday, the price went below 467.09, and is still pretty much bearish. While the price is contained below this level, we expect further rally to the lower side. The anticipated bearish price rally will be an extension of the impulsive wave (v) to the lower side and may breakout below 401.30 but should not go below 321.00.

Trade Recommendations:

We’re short towards 321.00

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