Ethereum Long Term Chart
No chnage in the view ‘The ETH fell inline with expectations as we approach the 76.4% retarcement level at 2785. There is no sign of divergence in the daily but lets look to the short term chart to see if there are any clues there as it appears wave (c) may have completed in 5 waves.’
Ethereum Short Term Chart
Like BTC we were calling a low in the ETH as well on Monday, but we have slipped only slightly lower and although unexpected I have adjusted the wave count. For me I prefer to start building a long position in ETH than BTC . I would rather not fight the trend and buy on a stop entry above 3265 with stops placed below whatever is the current low. This stands at 2946 unless we break and test the bottom of the channel in a longer wave v towards the 2600 level. Hence I would rather wait until momentum has turned in the bullish favour.
