Ethereum: Drop it low

8 nov 2022

Tonight is the full moon lunear eclipse that initiates a turning point for transformation. Well, Ethereum came a bit early to the party and dropped it low. We expect Ethereum to come back up to the $1790 resistance and move above $2029 right into the blue target zone. After completing the blue wave (iii) between $3048 and $3756 in the blue zone, the course should turn. Once again, we expect Ethereum to drop out of the target zone. In the secondary scenario, ETH should drop below the support as soon as it crosses the $1194 mark. After moving below the $1194 support, we expect the course to wander further below $883.
How far the ETH course is willing to drop will be specified as we move along.