Elliott waves crypto analysis – Etherum looks a bit bullish

Wave Analysis

During the previous trading day, Ethereum rallied higher and even went above 4 hour resistance level 462.09. As long as the price is supported above this level, we expect a possible momentum to the upper side . The anticipated bullish price rally is the unfolding of a corrective three wave cycle seeking to correct the recent bearish five wave cycle but should not go above 725.25. If this level is broken, the we expect further momentum towards 823.15. This view can only be invalidated in case the price breaks below 411.20.

Trade Recommendations:

We’re looking for a low risk long position towards 725.25.

101% Double the volume