Ethereum is similar as BTC. It’s bearish and as expected, seems like it’s just slowed down in wave 4, because we can see only a three-wave rise back to a previous wave iv and 38,2% Fibonacci retracement around 540 level, which is an ideal resistance for wave 4 at that channel support line, which can act as a resistance. So, here as well we can expect another leg down for wave 5 towards 430, maybe even 400, as long as it’s trading below 576 level, but if breaks above that 576, then bulls could be back in play.
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