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we're short

10 August 2018, ETH

Wave Analysis

Following the breakout below lower trendline, Ethereum rallied significantly to the lowerside and is still pretty much bearish both on the daily and the weekly charts. As long as the price remains below the lower trendline and most importantly below 363.32, we expect the impulsive wave (E) to continue to the lowerside but should break below 335.75. This view can only be invalidated in case the price breaks above 363.32, if this is the case, then we'll wait for a break above the immediate trend line.

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Graham Osano
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