Get Ready! Ethereum Retracement Phase Completed. Time for a Massive Rally
For the past few months now, we have been tracking the sideways movement of the ETH Elliot wave 4 pattern that has been forming on the Daily timeframe. And right now, we believe that retracement phase might be coming to an end.
The image above is what a completed Elliot wave count looks like, and in the coming days, we expect to see a similar price structure play out on the Ethereum price chart.
Start trading BTC,ETH, and a variety of popular cryptocurrencies with leverage as high as 100x on Bybit right now! Sign-up with our Bybit link to claim exclusive rewards of up to 6,045 USDT bonus
Ethereum Getting Ready for a Massive Breakout!
The Ethereum price is in a massive sideways consolidation phase as the ETH bulls continue to gather momentum for a massive breakout soon.
However, we believe this consolidation phase might be coming to an end very soon. Right now, we are watching the bullish Triangle pattern forming on the Daily timeframe and waiting for price to breakout.
Once the price breakout begins, this would confirm the start of the Ethereum Elliot wave 5 leg up and a massive rally to a new ATHs. So for now, we are very bullish on Ethereum and believe the ETH bulls are still in full control.
Final Verdict!
The Ethereum wave 4 retracement is finally coming to an end after months of sideways trading on the Daily timeframe.
The key pattern we are watching is the bullish Triangle pattern currently forming on the Daily timeframe. The presence of this pattern indicates that the ETH bulls are setting up for a massive rally in the coming days.
New to the idea of leverage trading? Check out this article list:
About The Author
