We're short towards 378.00. | 02 July 2018

Wave Analysis

During the previous week, Ethereum rallied massively to the lowerside but is still within the contracting wedge formation. On Friday last week, Ethereum bounced off from the lower supportive trendline, rallied higher but is still below a key 4 hour level 460.84. As long as the price is contained below this level, we expect a rally to the lower side. The anticipated bearish price rally will be the continuation of the impulsive five wave cycle and should break below 378.00. This view can only be invalidated in case the price breaks above 460.84.

Trade Recommendation:

We're short towards 378.00.

101% Double the volume