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ETH/USD eyeing 260! – Elliott wave analysis

ETH/USD eyeing 260! – Elliott wave analysis
Gregor HorvatGregor HorvatWavetraders

ETHUSD may have a completed correction in wave "b" just below 400 level, after recent strong decline, so watch out for more weakness for a wave "c", especially if BTC is also pointing into new lows. However, in case of strong bounce and recovery today on ETHUSD, be aware of a bigger a-b-c correction that can retest 400/420 area before the downtrend resumes.

ETH/USD, 4h

ETH

Here is our previous article about the ETHUSD, where we were expecting bearish price action. Click Here.

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Author

Gregor Horvat

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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