Ethereum Is Approaching Potential Resistance

Forex Technical Analyst • Aug 18, 2020 at 10:54 AM EDT

ETH is in an impulsive rally from March lows and from the Elliott wave perspective, price can be trading in final stages of a wave »v« of A/1, which can stop around 450 – 500 area.

Hello traders! Today we will talk about ETH/USD and its price action from the Elliott Wave perspective.

ETH is in an impulsive rally from March lows and from the Elliott wave perspective, price can be trading in final stages of a wave »v« of A/1, which can stop around 450 – 500 area. This recovery is actually confirming the bullish trend, but as we know, after every five waves, we have to be aware of a potential a-b-c corrective retracement. That said, watch out for limited upside, and a corrective retracement in three waves for a higher degree wave B/2.

ETH/USD, daily

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