All good analysts have a couple likely scenarios for future price action. I have built a case for the bulls here. with us already having 5 waves down on a 5th wave which is part of a wave BIG ABC correction. According to elliot wave the C wave always has 5 waves and that is demonstrated here. with macd and rsi divegence on this daily chart along with volume there is a positive case for bulls. there is also a descending wedge pattern that has formed with good potential to break to the upside from here.it must be noted that the 1hr chart has the RSI currently reaching oversold territory and will likely push up from here. i have demonstrated a POTENTIAL elliot wave roadmap in green that is breaking through the wedge pattern. I do feel like ethereum has reached some kind of bottom and sentiment is shifting positively is looking BULLISH longterm. I hope the info here has helped you reaching your OWN conclusions on future price action. thank you for giving me your time. Happy Trading!
RIGO
RIGO
Comment:
i forgot to note that the last time the daily RSI diverged was the first few days of april. we got a nice 120 percent pump after that