Ethereum Price Analysis: ETH/USD is following the Elliott Wave Harmonic patterns

Ethereum is trading 0.14% higher on Monday as the other majors have an off day.
The ETH/USD pair is following the Elliott Wave patterns pretty well at the moment.

Rajan Dhall, MSTA FX Daily

ETH/USD 60-Minute Chart

Below is the 60-minute chart for ETH/USD and it seems it's falling in line with the Fibs.

As you can see from the formation of the black lines the wave formation looks like it falls into the Eliott Wave sequence.

That would be a 5 wave pattern which follows the laws of Fibonacci.

Even the wave pattern on the retracement has a nice 5 wave pattern.

We have a nice Elliott Wave explainer if you would like more information on how it works (click here).

For the pattern to confirm to the upside a break of 263.85 will be needed, so now this is the level to watch.

Additional Levels

ETH/USD

Overview
Today last price	259.03
Today Daily Change	0.27
Today Daily Change %	0.10
Today daily open	258.76

Trends
Daily SMA20	218.02
Daily SMA50	177.84
Daily SMA100	165.01
Daily SMA200	177.04

Levels
Previous Daily High	273.8
Previous Daily Low	237.24
Previous Weekly High	287.42
Previous Weekly Low	216.5
Previous Monthly High	186.73
Previous Monthly Low	125.81
Daily Fibonacci 38.2%	251.2
Daily Fibonacci 61.8%	259.83
Daily Pivot Point S1	239.4
Daily Pivot Point S2	220.04
Daily Pivot Point S3	202.84
Daily Pivot Point R1	275.96
Daily Pivot Point R2	293.16
Daily Pivot Point R3	312.52

Author

Rajan Dhall, MSTA

FX Daily

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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