Ethereum: Wave 2 in motion

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 ETH 240 mins chart


Analysis

Ethereum is still consolidating in a range of $1500-1700 levels, as far as price persists in this range, sideways action  can be seen. However, one thing is clear that prices are suppose to give a bullish break going ahead.

As per Wave thoery, prices are moving in wave 2, in which either wave a is in motion or the entire structure will terminate in simple zigzag pattern. Internal counts are still tricky but $1500 will act as a crucial support for this crypto coin.

The summation is ETH will consolidate in a range of $1500-1700 for time bieng, after that $2000 -2200 is likely to be seen over medium term.

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