Elliott Wave View: Ethereum has resumed higher in Wave 5 [Video]

Elliott Wave Forecast Team ElliottWave-Forecast.com

Short Term Elliott Wave view in Ethereum (ETHUSD) suggests the decline to 913.59 ended wave ((4)). The crypto currency has now resumed higher in wave ((5)). Internal subdivision of wave ((5)) is unfolding as a 5 waves impulse Elliott Wave structure. Up from wave ((4)) low at 913.59, wave 1 ended at 152.78 and pullback in wave 2 ended at 985.01. The crypto currency resumed higher again in wave 3 towards 1257.80 and wave 4 ended at 1065. Final leg wave 5 ended at 1292 and this completed wave (1) in higher degree.

Pullback in wave (2) then ended at 1166. Ethereum has resumed higher again in wave (3). Up from wave (2) at 1166, wave ((i)) ended at 1268.4 and wave ((ii)) pullback ended at 1184.21. Wave ((iii)) ended at 1439.55, and pullback in wave ((iv)) is proposed complete at 1335. The crypto currency can see one more marginal high to end wave ((v)) of 1 and complete cycle from January 17. Afterwards, it should pullback in wave 2 to correct that cycle before the rally resumes again. As far as wave ((4)) pivot at 913.59 low remains intact, expect dips to find support in 3 7, or 11 swing for further upside.

ETHUSD 90 Minutes Elliott Wave Chart

ETHUSD Elliott Wave Video

Author

Elliott Wave Forecast Team

ElliottWave-Forecast.com

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