ETHEREUM (ETH): MACD is Too Close to the Apex
SUMMARY
Ethereum (ETH) has likely completed a full ABC corrective cycle. The five subwaves of red C are in place. However, the downward wedge could potentially generate one more up/down cycle for a lower low to $285 or so. But, the MACD is pretty much out of runway being so close to the apex.
The below chart outlines the primary (white) and an alternate (yellow) pathway. Both are expected to move in an impulsive five wave manner. However, the yellow pathway allows a lower low to occur as this would then bring the price much closer to the apex. But, the MACD has next to zero mobility and may not be able to generate one more cycle. Could a breakout be the next move?
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Both look like possible paths indeed. I thought breakout had 75% probability but right now it looks like a 50-50 situation, it's basically random walk. Breakout is an imminent possibility because the waves have gotten smaller and the price movement is weak. On the other hand, the prices have been too stagnant for long, and the downward trend still exerts force.
we are at the final min wave 5 of ABC flat - C wave - which may be expanding diagonal - please note 4 has moved beyond end of 1, which only happens in a diagonal . i think the mini wave 5 of sub-wave 5 of C is in progress. we are still up for a lower low of $350 or under but please note that in case of expanding diagonal- wave 5 always ends before meeting line connecting 1 & 3 . so i don't think we will reach 290 range.
Thanks for sharing, lets see where ETH stands in coming days.
hopefully this is the beginning of the resurrection of the ETH, and can penetrate the peak. be informed of the information. this is useful for me
I don't think so. There are too many ICOs ready to dump ether.
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first? Another sweet update? I have no idea what any of that means; i just wanted to be; the first to? comment???
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Very informative post. Looking forward for using this great tool.
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Great analysis as always!
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