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Despite Ethereum making brand-new intraday highs, Crypto’s overall market cap has still 3 waves up from the lows just, so thoroughly with any bullish view at this phase. However, ETH is among the greatest and by itself method, so there’s still an opportunity to strike 5k location, however just till is above 3500 level and if BTC and other ALTs will remain in sideways combination.
As per Elliott Wave, ETHUSD might have now a leading diagonal within wave (A) on the intraday basis, so we can anticipate a larger healing for wave (C) after a three-wave A-B-C obstacle in wave (B). Ideal assistance is around 4000 level, while invalidation level stays at 3500.
Ethereum 1h Elliott Wave analysis
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