Flat | 01 March 2018

Wave Analysis:

Ethereum is pulling back gradually, we expect further growth to the lower side but should not go beyond the supportive zone 677.11-557.98. We expect this downward rally to be a mere corrective phase of the previous corrective wave (4) and should not go beyond the daily support seen aty 557.95. If this support is violated, then we expect further bearish momentum towards 242.47 or even lower. A rebound from 672.11 will mean buying the last impulsive wave (5) to the upper side and should break above 1390.01 towards 1500.00. As at the moment, we recommend remaining flat, and wait for a rebound from 672.11-557.95 to long ETH.

Trade Recommendations:

Flat

The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.