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Ethereum with ticker ETHUSD made a nice and clean three-wave A-B-C corrective decline as shared back on May 12, link here. It has turned out that wave B was a triangle followed by a projected drop for wave C into mentioned and highlighted support area.
As you can see today, Ethereum is following Bitcoin and it's waking up from projected support in the 4-hour chart after a completed A-B-C corrective decline. With an impulsive recovery back above the channel resistance line and 1900 level, seems like bulls are back and we can easily expect more upside within a five-wave bullish cycle, just watch out for short-term pullbacks.
We talked about Ethereum and other cryptocurrencies in our video analysis shared a week ago on June 12. For a detailed view check the video below:
Video Length: 00:08:50
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