Ethereum Is Eyeing April Highs from technical perspective and by Elliott Wave theory but after A Pullback.
Hello Crypto traders! In today’s article we want to update Ethereum chart with ticker ETHUSD. We already talked about a nice bullish turn from the support back on November 10, where we have been tracking a new five-wave bullish cycle. CLICK HERE.
As you can see today, ETH made nice and clean five-wave recovery, which indicates for more upside, at least towards the April highs and 2200 – 2300 area or maybe even higher. However, currently we can see it making a new corrective setback, so after a triangle corrective pattern or deeper A-B-C correction that can retest 1900 support, be aware of more gains. If ETH slips below 1870 level, then correction can go deeper and more complex with the next support around 1800 – 1750 area.
One of the main reasons why ETH can stay in uptrend is also because of the bullish ALTcoins in current ALTseason we talked about 4 days ago on November 24TH. CLICK HERE
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