Ethereum (ETH / USD) Update - Triangle Break and Target
More than 2 weeks ago I analyzed ethereum, I had announced a triangle that had formed and the price had broken it up
Let's see
Analysis from 2 weeks ago
Today's analysis updated
In the post already weeks ago, I analyzed Ethereum and looking at the graph we could draw a triangle.
In the formation of a possible triangle, detect an ABCDE
We saw how after forming a new triangle, the price had broken it, with good volume, the price confirmed the figure touching the upper limit of the triangle
If we measure the height of the triangle and project the possible increase or decrease in the price, we could estimate a possible target price.
Today we can replace the upward momentum with elliot waves and define price target areas for Ethereum.
Analyzing the graph we can define 4 out of 5 elliot waves. We would be forming the 5th wave and they would coincide with the 2 target areas.
Bullish
Objective: Range $ 200 dollars approx.
Goal: Range $ 240 dollars approx.
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