Etheruem Elliott Wave Analysis

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 Ethereum 4 hour chart


Analysis

As shown in the above chart prices are moving precisely in a falling red channel giving an indication that the trend is negative.

Prices are also on the brink to give a breakout in a symmetrical triangle pattern which will give further direction to the price after sideways consolidation.

As per wave theory, prices are moving in wave c where it has completed wave iv in a triangle pattern and will start wave v lower.

The summation is Ethereum can slump towards $1220-1200 over short period of time.


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