ETH –
Wave Analysis
On the 4 hour chart attached, Ethereum appears to have gained a bullish momentum after a failed attempt to break below the 4 hour support level 583.60, as long as the price remains above this level, we expect a possible momentum to the upper side. The anticipated bullish price rally is the continuation of both the impulsive waves (v) and (c) to the upper side, and may break above 736.75, towards 970.40 or even higher. This view will only be rendered futile in case the price breaks below 583.40, this being the case, we’ll expect a decline towards 460.84.
Trade Recommendations:
We’re long with our first stop at 736.27 and the next at 970.40
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