Ethereum (ETH): A Minor ABC Correction In Progress

in #ethereum4 years ago


The breakout of Ethereum (ETH) from the downward wedge that had been developing since December was supported by the MACD breakout. The ABC (red) corrective waves seem, therefore, complete.

The closeup microwaves (blue) show the first impulse round is placed and the next price action is a minor retracement. The small wedge formation could also mark the A of the ABC (red) requisite correction. These are all subwaves to a higher degree of trend waves and so expect a bit of volatility.

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Your ETH report looks very promising!
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Your disclaimer had me in stitches lol

its only short term

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Nice analysis Haejin.

Buyer are in the process of taking out the sellers at $ stop are the sellers at $700.

Here's a closer look.

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