Ethereum: Will the Irregular Flat Correction End Soon?

In July, see here, we found using the Elliott Wave Principle (EWP), for the “queen of cryptos” Ethereum:

“ETH’s strong rally last Thursday, [July 13], only to be erased a few days later, smells, per the EWP-“olfactory test” like a B-wave. This means red W-ii/b is most likely becoming an irregular flat: green W-a, -b, and -c from the red W-i/a high with an ideal target zone of $1775-1875 depending on the relationship between W-a and W-c (c=a to c=1.618x a).

Since then, ETH has moved slowly lower, only losing ~5% of its value, and has done so in an overlapping, and thus corrective, fashion. The decline since the July 13 high is likely morphing into an ending diagonal (green) W-c of the red W-ii. See Figure 1 shown.

Diagonals are overlapping five-wave price patterns, and ETH may now also have completed the grey W-v—the last wave of the green W-c. The ideal (green) target zone is between $1785-1825, which fits well with the “1770+/-25” zone we already forecasted in June. Moreover, ETH’s price tagged the (red) 50% retrace, which is quite common for a 2nd wave (red W-ii), and reacted strongly.