Elliott waves crypto analysis – Wait for buy trade around 0.4478.


Wait for buy trade around 0.4478.

Wave Analysis

A key 4 hour support can be seen around 0.4478. Yesterday, the price pulled back to the same line but failed to breakout below. As we mentioned, as long as the price breakout below this level, we expect a possible rally to the upper side. The anticipated bearish price rally is the unfolding of a corrective five wave cycle but should not go beyond 0.6830. But should the price breakout below 0.4478, then this will be a good place to pick a short position. This downward rally should be the continuation of the impulsive wave (v) towards 0.4235.

Trade Recommendations:

Wait for buy trade around 0.4478.

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