Ethereum and Wave Counts

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 Ethereum 4 hour chart


Analysis

As seen in the above chart, prices made a high of more than $2100 levels and faltered thereafter to travel back below $2000 levels. The crypto has a strong support placed at $1700 which is likely to be tested in some time.

According to Wave theory, prices are moving in wave 3 in which it has completed wave i and it is moving in wave ii where one minor leg is pending on the downside which can test $1700 levels. After that wave iii of wave 3 will start which can soar till $2400-2600 levels.

The summation is ETH is moving in a positive direction but can test $1700 levels before surging towards $2400-2600 levels.

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