Ethereum

ETH/USD - more complex irregular correction

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An extended irregular correction may be spotted on the ETH/USD daily chart. The irregular correction consists of three main waves labeled as “ABC” and three sub-waves within wave “B” labeled as “abc”. Sometimes the wave “B” could be extended as it could be right now.

The potential support for the wave “C” may be an area set by the previous highs at 290,00 USD. Also, a psychological level of 300 USD could stop the bears.

We should also mention the main upward channel. Its upper and lower limits could also set a potential resistance and support areas.
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Daniel Kostecki, Chief Analyst Conotoxia Ltd.

Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.

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