Ethereum EW analysis 07/05/2017

With a lot of headlines and people calling ethereum to crash, Elliott Wave analysis shows the opposite. If count is correct we are nearing the major 3rd wave which a lot of people unfortunately will miss it. This is supported by fundamentals too, soon Metropolis, which will bring at least 10 improvement. Also it is possible reduction of mining rewards. 99% of holders voted to reduce rewards on carbonvote.com

Chart is valid as long as ethereum stays above $205 low. Targets 100% extension at $615, 123.60% extension at $712 and final target 161.80% extension at 870$.

Disclaimer: The information contained herein is not guaranteed, does not purport to be comprehensive and is strictly for information purposes only. It should not be regarded as investment/trading advice.