E EW Analysis: Ethereum Is Looking Higher After A Pullback

Cryptocurrencies made a nice bullish reversal at the end of 2018 and after that consolidation at the beginning of 2019, we may finally see a bullish continuation soon.

Ethereum made a clear five-wave rise into 165 area away from a completed correction of wave B/2, so seems like ETHUSD can see more upside within wave C/3. But nothing goes in straight lines, so in EW theory, after every five waves, a three-wave pullback follows, which means that ETHUSD may just slow down in an (a)-(b)-(c) correction, where ideal support would be around 61,8% - 78,6% Fibonacci retracement and between 125-115 levels!

As you can see, ETHUSD can be now approaching the final wave (c), so be aware of a bullish reversal soon. In case if goes more complex, we remain bullish as long as it's trading above 100 invalidation area! 


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