This rally was nice. Ethereum didn't play as expected.
It pump about 35% which is ridiculous. So I believe ETH has one more wave up.
Using Elliott waves we can see this pump was just third wave of big third wave, which means we need to see that 5. wave.
When BTC pumps ETH usually have delayed reaction. Let's catch that one more wave up.
My target is that gray box and negative 0.236 Fib (between 210-215$).
We can see that 200 EMA on 2h is acting like good support, so I think it will hold ETH for now.
RSI is slightly oversold, so we can expect bounce here.
MACD looking decent here, it is about to crossover soon to positive side.
Overall I am bullish here. This drop was just healthy correction, because of that i expecting new highs.
If you like this analysis and trade, don't forget to leave a like, and follow me, I would be very grateful. If you have any question leave a comment or send me a message.
It pump about 35% which is ridiculous. So I believe ETH has one more wave up.
Using Elliott waves we can see this pump was just third wave of big third wave, which means we need to see that 5. wave.
When BTC pumps ETH usually have delayed reaction. Let's catch that one more wave up.
My target is that gray box and negative 0.236 Fib (between 210-215$).
We can see that 200 EMA on 2h is acting like good support, so I think it will hold ETH for now.
RSI is slightly oversold, so we can expect bounce here.
MACD looking decent here, it is about to crossover soon to positive side.
Overall I am bullish here. This drop was just healthy correction, because of that i expecting new highs.
If you like this analysis and trade, don't forget to leave a like, and follow me, I would be very grateful. If you have any question leave a comment or send me a message.