Ethereum (ETH): Ready for Wave 3?

in ethereum •  27 days ago

SUMMARY

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Ethereum (ETH) is following Bitcoin and has broken out of the downward wedge (blue lines). Could the correction end before completing the minimum run to $461? If ETH follows Bitcoin (BTC) to the upside, yes. The chart below shows the final five of blue 5 of red C waves complete. The price breakout is also being carried out in an impulsive manner (purple) and that's a good sign.

Now, look at the recent five wave up (white) and the current ABC correction which is forming a bull flag. The five waves up are actually subwaves to a higher degree of trend blue circled 1. The current correction are the subwaves to blue circled wave 2. IF this is correct and price breaches the upper purple trendline of the bull flag in an impulse seuence; then the very bullish blue circled wave 3 could onset.

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I always feel like people are doodling on these graphs they way Steve Madden doodled on football plays.

There is then this unbridled hope that the doodles will align with reality.

Not to say I'm not ultimately optimistic, and I am sure there is a lot of thought and care in these analyses, but sometimes they just seem like people playing with tarot cards or staring at tea leaves.

will ETH come back to $400?

About a week ago ethereum block size reached 1TB. Not much was said about this but being the public blockchain like it is, this could complicate the mining costs longterm. Casper and the plasma network could help this if they are implemented effectively.
Im rooting for ethereum its a good project.

OMFG Ethereum will reach all time highs already in august?!
What will happen with EOS in august?
Fun times await us ahead :)

Ethereum is still down massively, but hopefully after today's little pump we might be heading back up to $600 - $700.

Yes you right.

buen momento para comprar eth

Good post Im very optimistic about ETH. Thats one of my main crypto in my porfolio. But what if Vitalik Buterin will accept job offer from Google :))))

Thanks, very good post.
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Coins mentioned in post:

CoinPrice (USD)📈 24h📉 7d
BTCBitcoin7440.420$2.68%-9.36%
EOSEOS11.963$-1.69%-6.89%
ETHEthereum558.522$5.16%-17.27%
QAUQuantum0.158$8.96%-2.0%
WAVESWaves4.202$5.96%-23.21%

Your counting for Elliot waves Is the best.

Great to see ETH on the run again

I have seen so many times but the wave 3 never happens rofl! Eventually wave 3 will happen and then we can say even a broken clock is right twice a day!

You have been pitching wrong technical analysis since day one. Please stop wasting peoples time.

after eos finish selling the ethers they own then price will go back up

Thank you for this great read! Would you also be interested in reviewing World Wi-Fi project?

My body is ready.

The chart doesn't really reflect the reality that tx prices are soaring in ETH! Safe gas price now around 15Gwei... not a good thing! It has been climbing the last few weeks pretty consistently. Think about not being able to exit this coin or any ERC-20 token! May be painful!