Wait and sell below 359.87 | 10 April 2018

Wave Analysis

After establishing a support at 359.17, Ethereum pulled again upwards but is still way below the hour resistance level 460.17. We expected a rise towards the latter, but as it appears, any clear sell signal from now onwards will call for a short position with our target still set at 200.00. If you’re not short already, you could wait for a break below 359.87 to pick a short position, with your first target being around 300.00 and the next at 156.20.. The anticipated bearish price rally will the the continuation of the impulsive wave (5) to the lowerside but should first break below 359.52.

Trade Recommendation:

Wait and sell below 359.87

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.