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Ethereum Elliott Wave analysis: Limited gains ahead

  • Ethereum remains slow and sideways.

  • Unfolds bearish running triangle within wave B.

  • Limited intraday gains seem before another decline.

Ethereum Elliott Wave analysis: Limited gains ahead
Gregor HorvatGregor HorvatWavetraders

As per Elliott Wave analysis, ETHUSD remains slow and sideways, so we are still tracking a bearish running triangle pattern of wave B, which can be now nearing the end as we are tracking the final wave E, so be aware of limited intraday gains and watch out for another decline that can send the price back to lows for wave C.

However, in case of a bigger recovery above 2400 or 3000 levels, then we are still observing a bigger flat correction within wave B as part of the ALTernate count.

ETH/USD 4h Elliott Wave analysis chart

Bitcoin

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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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