Wave Analysis

Since may this year, Ethereum has been rallying within a falling channel and is not showing any signs of breaking out of it. As long as the price remains within this channel, we expect a possible momentum to the lower side. Just recently, the price bounced from the upper trend line and is now in a motion to the lower side. We expect this rebound to have marked the end of the corrective wave (iv), that the current rally to the lower side is the unfolding of the impulsive wave (v) to the lower side and should break below 499.59 towards 300.00.

Trade Recommendations:

We're short towards 499.59.

101% Double the volume