Waiting to buy Ethereum | 18 May 2018

Wave Analysis

Yesterday, Ethereum traded relentlessly to the lower side but is currently approaching a key supportive trend line. As long as this trend line is not violated to the lower side, this should act as a perfect buy place, which means, we expect a decline towards it, then a rebound to pick a long term long position with an ultimate target at 834.00. Conservative traders however, should wait for a break above 716.37 even after a rebound from the lower trend line. This view can only be invalidated in case the price breaks below the immediate trend line, this being the case, we'll expect a crash towards 565.60.

Trade Recommendations:

Buy Ethereum upon a rebound from the immediate supportive trendline

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.