Ethereum Elliott Wave Analysis

• Crypto market remains slow and sideways
• Major ALTcoins look corrective within downtrend
• Ethereum price sooner or later will move lower

Crypto market remains slow and sideways, most likely corrective move within downtrend, so we remain bearish for now, just be aware of more sideways price action and more complex wave structures, maybe even bigger intraday recovery, as we are still observing ALTernate counts.

Majors ALTcoins look corrective within downtrend, ideally as part of bearish triangles either in wave B or sub wave (iv), but we have to be aware of bigger, higher degree and flat corrections.

Ethereum ETHUSD remains slow and sideways, so we are still tracking a bearish running triangle pattern of wave B that can send the price even lower for wave C. However, in case of a bigger recovery this week, then we are still observing a bigger flat correction within wave B as part of ALTernate count that can retest 3000 - 3500 resistance area

Ethereum 4h Elliott Wave Analysis Chart