Elliott waves crypto analysis – We’re short towards 486.10.


We're short towards 486.10.

Wave Anaysis

Buyers of Ethereum continues to get frustrated as the value of this Crypto continues to drop. Yesterday, a bunch of buyer around the upper trend line got frustrated when the price edged even lower and is currently below a key hourly support 569.37. The break below 560.37 was a key move and as long as the price remains below this level, we expect a possible rally to the lower side and may break below 499.85. The anticipated bearish price rally will be the continuation of the impulsive wave (c) to the lower side with an ultimate target at 486.10.

Trade Recommendations:

We’re short towards 486.10.

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