Elliott waves crypto analysis – We’re short towards 485.35


We're short towards 485.35

Wave Analysis

After breaking below the supportive trendline, Ethereum pulled back to the same trend line but could not rise above it. From the current chart set up and structure, Ethereum could possibly sustain the break below this trend line, therefore, as long as the price is contained below it, the immediate trend line, we expect a possible momentum to the lower side. The anticipated bearish price rally is the continuation of the impulsive wave (v) to the lower side and should first break below 485.35 towards 250.00.

Trade Recommendations:

We’re short towards 485.35.

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