Ethereum Is Pointing Higher For Wave 5 or 3

14 בנוב׳ 2023

Ethereum is coming nicely higher as expected based on Elliott wave theory and it's now even extending the rally on the news that Blackrock Ethereum ETF plan is confirmed in the Nasdaq filing. On a daily chart, there's a chance it's trading in wave (5) of a potential leading diagonal formation or alternatively maybe even in wave (3) if we see a decisive break above upper leading diagonal line. However, in both cases there's still room at least up to 2200 - 2300 area to complete a five-wave bullish cycle in the 4-hour chart, so more gains can be seen, just be aware of short-term pullbacks.