Hello, everyone!

Today I want to introduce the ETH price analysis. Let’s consider it with the Elliott Waves . I suppose that now ETH is in Wave 4 and as you already know, it’s target is between 0.382 and 0.5 Fib retracement for the previous impulse. Thus, if you want to trade ETH, $4000 is a goo buy price.

What is the target? The Wave 5 is incoming and it’s target is 0.61 Fib from the difference between Wave 1 beginning and Wave 3 end, measured from Wave 4 bottom. The anticipated target is next to $6000, in case of altseason it is realistic target. Bitcoin can go sideways this time. Now we don’t see the true divergence with MACD on the daily chart . Trends usually finishes with the divergence on the higher timeframes. I will update analysis when it happens.

DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions at the real market.