ETHUSD Eyeing Lower Prices - Elliott wave

ETHUSD is unfolding a bigger five-wave move down from 4870 lvl.. At current time, price can be unraveling black wave 3, specifically ending its sub-wave (4) at the Fib. ratio of 0.50, which means sub-wave (5) of 3 can show up in the near term. That said, a sharp, impulsive drop below the lower corrective channel line, and below the 2575 lvl. would confirm sub-wave (5) of 3 underway, targeting below the 2164 lvl..