Ethereum Price Forecasted to see Large Gain using Elliott Wave Analysis

Ethereum Price Elliott Wave Talking Points:

  • The bearish wave from May 7, 2018 can be counted as complete opening the door for a large rally
  • The Elliott wave pattern for this cryptocurrency implies a bullish breakout may be on the horizon towards 225 and possibly higher levels
  • An immediate move below 102.20 does not negate the longer term bullish forecast, but simply delays the bull trend

Ethereum’s price has fallen in a bearish impulse wave from the May 7, 2018 high. Using Elliott Wave Theory as our guide, we can count the minimum waves in place to suggest a large rally may form nearby if it has not begun already. If the rally is successful in forming, Ethereum may rally to 225 and possibly higher levels.

The current Elliott Wave for Ethereum

Ethereum Price Forecasted to see Large Gain using Elliott Wave Analysis

New to Elliott wave corrective patterns? On page 5 of our Elliott wave advanced guide, we explain Zigzag’s and where they commonly occur.

The Ethereum price chart shows a bearish impulse wave in place from the May 7, 2018 high.

Article source: https://www.dailyfx.com/forex/technical/elliott_wave/cryptocurrency/2018/11/29/Ethereum-price-forecast-to-225.html