ETH When will the Ethereum selloff end??

I've previously mentioned in an ETH trading idea that the Bitcoin ETF approval would be a 'buy the rumor, sell the news' event for Ethereum as well:

Now we observe a continuation pattern with bearish Elliot Wave price targets.
Elliott Wave Theory is a technical analysis approach that attempts to identify and predict market trends by recognizing recurring wave patterns in financial markets. Developed by Ralph Nelson Elliott in the 1930s, the theory is based on the idea that market movements follow a series of repeating patterns and cycles.

Elliott Wave theory often incorporates Fibonacci retracement and extension levels to identify potential reversal or continuation points within the wave patterns.

In this case Elliott Wave`s price target for ETH is about $2330.

Trade chiuso: obiettivo raggiunto:

Price Target reached!
Bullish reversal now!