Elliott waves crypto analysis – As long as the price remains within the falling channel, expect nothing but a possible decline towards 154.

Ethereum continues to rally within the falling channel formation and is still pretty much bearish both on the daily and the weekly charts. Just recently, the price pulled back to the upperside but is still below the upper trendline acting as a resistance to the falling channel. As long as this trendline is not clearly broken to the upperside, we expect this crypto to plunge further with the next ideal target being 202.20. This view can only be invalidated in case the price breaks above the upper trendline, if this is the case, then a rally upwards is expected.

As long as the price remains within the falling channel, expect nothing but a possible decline towards 154.

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