ETH - Initial Targets are $ 666, $ 718, $ 784
Note these targets has concluded by using the Fibonacci Expansion.
With the end of the 4th major wave in the range of $ 80.96, the upward trend has started in the 5th wave, which is also the reason is the price increase to the 363.29 range with 5 ascending waves. In Wave 2, we faced a very deep corrective movement, which is a very important point. With the end of Wave 2 in the range of $ 89.80, a strong uptrend began in Wave 3, which is still is going ahead. Based on the wave count, the price is in the 5th wave from point 3.
( Daily Chart )
On the 240-minute chart and by examining the details of the sub-waves, there is a scenario that the 4th wave from the 3rd point is over in the range of $ 313.42.
The first wave in 5 wave : is Leading Diagonal pattern
The second wave in 5 wave : is short Double Zigzag pattern
The third wave and the ambiguity point:
I was able to count this wave in two ways:
In the first wave count, which is displayed in green color, the iii wave is over and we have had a deep correction in iv wave, and then we have to wait for the price increase for the specified targets.
In the second-wave count, which is displayed in gray color:
“iii “ Wave is not over and the price is still in iii wave where the uptrend targets can only be specified for the “iii “ wave.
In both scenarios are bullish, and in the most optimistic case, it could be as high as $ 1,000 to $ 1,200 before the Ethereum price enter the corrective phase.
At the beginning of this post, I emphasized the depth of the corrective movement in 2 Wave (a wave counted and depicted in blue).
According to Elliott wave's rules, if we have a deep correction in 2nd wave, the price encounters a short correction in the wave of 4, also the two patterns should not be the same. So, there is the possibility of forming a triangle pattern in the wave of 4. Which is a short pattern.
Overall, the trend is certainly bullish, in this currency by monitoring the weekly logarithmic charts, the price will hit the level of $ 4,000 targets.
As someone who has a great future for digital currencies, these prices are too low (this is just my opinion and it might be very different from yours)
With the end of the 4th major wave in the range of $ 80.96, the upward trend has started in the 5th wave, which is also the reason is the price increase to the 363.29 range with 5 ascending waves. In Wave 2, we faced a very deep corrective movement, which is a very important point. With the end of Wave 2 in the range of $ 89.80, a strong uptrend began in Wave 3, which is still is going ahead. Based on the wave count, the price is in the 5th wave from point 3.
( Daily Chart )
On the 240-minute chart and by examining the details of the sub-waves, there is a scenario that the 4th wave from the 3rd point is over in the range of $ 313.42.
The first wave in 5 wave : is Leading Diagonal pattern
The second wave in 5 wave : is short Double Zigzag pattern
The third wave and the ambiguity point:
I was able to count this wave in two ways:
In the first wave count, which is displayed in green color, the iii wave is over and we have had a deep correction in iv wave, and then we have to wait for the price increase for the specified targets.
In the second-wave count, which is displayed in gray color:
“iii “ Wave is not over and the price is still in iii wave where the uptrend targets can only be specified for the “iii “ wave.
In both scenarios are bullish, and in the most optimistic case, it could be as high as $ 1,000 to $ 1,200 before the Ethereum price enter the corrective phase.
At the beginning of this post, I emphasized the depth of the corrective movement in 2 Wave (a wave counted and depicted in blue).
According to Elliott wave's rules, if we have a deep correction in 2nd wave, the price encounters a short correction in the wave of 4, also the two patterns should not be the same. So, there is the possibility of forming a triangle pattern in the wave of 4. Which is a short pattern.
Overall, the trend is certainly bullish, in this currency by monitoring the weekly logarithmic charts, the price will hit the level of $ 4,000 targets.
As someone who has a great future for digital currencies, these prices are too low (this is just my opinion and it might be very different from yours)
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