Wave Analysis

For almost a quarter of a year now, Ethereum has constantly corrected itself to the lower side but could not go below the level 448.05. We expect the rebound from 448.05 to have marked the end of this correction, that the current upward movements seen on the weekly chart is the unfolding of the impulsive wave (5) to the upper side and may break above 1368.90 towards 1500.00 or even higher. Conservative traders can either choose to remain flat or wait for as low risk buy positions around 448.05 with their target at 1368.90.

Trade Recommendation:

Conservative traders should remain flat or look for low rise buy positions.