In my last analysis I mentioned the possibility that ETH could break the resistance and go up further - what has happened.
And with this move I had to adjust my analysis.
It is now to expect that the price arrives at the next resistance at 1.800$ (261.8%).
I also drew another EW-possibility (not third but already the fifth wave). Elliott wave-theory is very subjective!
Fundamentally ETH is stronger than the other coins, including especially Bitcoin. Its blockchain has more to offer than only a financial transaction. So, in the long run I expect at least a doubling of the prices (perhaps even a triple).
Indicators:
RSI: strong
MACD: strong
ADX: momentum is falling, +DI climbing and -DI falling = positive
conclusion: I expect rising prices with some consolidations sideways
And with this move I had to adjust my analysis.
It is now to expect that the price arrives at the next resistance at 1.800$ (261.8%).
I also drew another EW-possibility (not third but already the fifth wave). Elliott wave-theory is very subjective!
Fundamentally ETH is stronger than the other coins, including especially Bitcoin. Its blockchain has more to offer than only a financial transaction. So, in the long run I expect at least a doubling of the prices (perhaps even a triple).
Indicators:
RSI: strong
MACD: strong
ADX: momentum is falling, +DI climbing and -DI falling = positive
conclusion: I expect rising prices with some consolidations sideways
I don´t think so. But it´ll take some time for normalization.
Meanwhile the ETH has broken the support (now resistance). If it won´t come back or even fall deeper then this could also signal that wave 5 has ended earlier! and we´re starting with corrective Wave A.
This could lead to prices around 1.000$ (psychological mark) - 1.050$ (resistance).
We´ll have a look on the development.
At the moment all indicators are negative - not surprisingly.