Ethereum (ETH / USD) Last Boost Before Correction? - Target $ 270 or $ 280?
Ethereum shows signs of new momentum, will it be the last before correction?
Let's see
In the last days ethereum has made a correction that did not invalidate the previous analysis,
I have updated the previous report, but they follow the same target
Graphic Today
Ethereum touched the first target range set 2 weeks ago
Chart 2 weeks ago
Elliot Wave Analysis
Analysis according to Elliot
Analyzing the chart, we see that measuring the last bullish cycle with the Fibonacci retracement gives us that the price touches 0.382 and rebounds. This type of pullback occurs in 4 waves, 5 waves of the bullish cycle.
We can see in the graph that waves 3 and 4 are complete
This allows us to measure the target of a 5 fibanacci wave
Elliot subwaves in bullish momentum
Elliot subwaves
Within this wave 5 we can define 5 elliot sub-waves as we see in the graph
Analyzing the chart we can define a bullish sub momentum. We see a beginning of a bullish momentum, which if we analyze with sub waves of elliot we could identify the first 2 waves and project the following ones.
How the target is determined
If we measure the height of the first 2 sub waves we can project a target with the fibonacci extension.
This allows us to measure the target of a 5 fibanacci wave
If we apply Fibonacci extensions, we can define a possible wave 5 target, which would take the price up to $ 270 to $ 280 dollars
Bullish
-
Target: range from $ 235 to $ 245 approx. (compliment)
-
Target: range from $ 270 to $ 280 approx.
Bearish
- Target: range from $ 210 to $ 215 approx.
After completing wave 5 of elliot, you need to make a price correction.
What pieces of the bullish momentum will hit $ 270 to $ 280
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