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Daily Crypto Price Analysis (Ethereum May 23rd, 2018)

Just like BTC, Ethereum is trading within a bigger correction after an impulsive five-wave rise from 355 lows. We are tracking a three-wave A-B-C corrective pattern, where wave B can be formed into a triangle followed by a break lower into final wave C that can stop around 50% Fibonacci retracement and 590 level, but be careful, because there can be room even towards 61,8% Fibonacci retracement and 500 level, so we strongly suggest to wait for an impulsive bounce and 720 bullish confirmation level.

 

 

 

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