Ethereum Elliott Wave Analysis

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 ETH 4 hour chart


Analysis

After making wave 2 at $1372 levels, prices continues to move higher till $1855 levels post that ETH is consolidating in a stiff range of $1850-1700 levels. As far as prices persists in this range the bias will be sideways.

This does not mean that the target of $2000- $2200 is negated. The level is bound to achieve but will consume time.

Prices are moving in wave iii where it has completed wave i of wave iii and currently is it moving in wave ii o wave iii which can move down towards $1750-1720 levels which will be the last leg of wave ii of wave iii, post that it will again move higher in the form of wave iii of wave iii.

The summation is ETH can move back down towards $1750-1720 levels which can be utilized as a buying opportunity for the level of $2000-$2200 levels.

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