Ethereum ETH/USD Re-visited and Elliott Wave Analysis

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 ETH/USD daily chart anticipated on 31st May 2021


ETH/USD daily chart happened on 3rd June 2021


In my previous update on Ethereum dated 31st May 2021, I had mentioned two probabilities and it happens to be the former one to be successful. "In wave b wave wave a and wave b is over and wave c can surpass wave a of wave b which can move till $2900-3000 levels."

Here is the link of my previous article on ETH, click on it

https://www.marketanalysiswithmeghmody.com/2021/05/ethusd-elliott-wave-anaysis.html

Here in this case price did not surpass but came close to $2900 which is 50% of the recent fall thus making it a simple zigzag pattern.

The falling trend line is crossed thereby giving a bullish break and now there is high possibility for prices to climb over short to medium term.

As per waves perspective, prices are moving in an impulse fashion after the bullish break, in which it has completed wave i and wave ii and it is on the verge to start wave iii which can reach near till cluster of resistances at $2900-$3000.

The summation is ETH/USD is all poised to climb $2900-$3000 over short to medium term.

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