Elliott waves crypto analysis – We’re short towards 467.19


We're short towards 467.19

Wave Analysis

After bouncing from the supportive level 467.19, Ethereum rallied higher but failed to break above the upper trend line. As we stated previous, as long as the price remains confined within the falling channel, we’re only looking for reversals, waiting for a sell along the upper trend line, and a buy along the lower trend line. We went short around the upper trend line and is still holding, our expectations is that the price should continue to decline and may break below 467.19. If this is the case, then we expect the impulsive wave (v) to continue further to the lower side.

Trade Recommendations:

We’re short towards 467.19

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