Wait for a break below 363.43 | 06 April 2018

Wave Analysis:

Ethereum is still trading above the hourly support it developed around 363.48. Yesterday, we expected a break below this target but as it appears, Ethereum could stall above this level before a clear direction is seen. Ideally, we expect a break below 363.48 to confirm a possible bearish price rally and may break below 347.00 to the lower side. The anticipated bearish price rally will be the continuation of both the impulsive waves (v) and (5) to the lower side and should break below 367.49 but should not go beyond 243.00.

Trade Recommendations.

Wait for a break below 363.43 then pick a short position towards 243.00

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.