Forex (SPOT)

Ethereum ($ETH): Elliott Waves Updates Analysis

Today we look at Ethereum ($ETH) and continue to follow the Crypto on the daily chart. As we have said in recent weeks, macro-economic data also have an interesting impact on cryptocurrencies, so we are not surprised by the latest swings which are working our medium-long term structure correctly.

Technically, Ethereum is approaching a major resistance area as shown on the chart, and if the market starts seeing it from this area, our ABCDE Pattern idea might be correct. From this area, if a reversal pattern also appears on the intraday chart, it could be the beginning of a bearish leg (wave D).

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