Matthew_OG

Matthew_OG Updated 

In a nutshell, still bullish. On daily TF it has crossed down the lower Bollinger Band - normally bounces back quickly. Also, It's oversold on 4H and 1H timeframes, so a quick temporary recovery from here is expected. But still should retest $28,000 and touch the long-term trendline. Might even go a bit lower to the $27,000 level (My assumption: a bear trap...

Matthew_OG Updated 

Ethereum ended its 5-wave Elliott wave in Nov-Dec 2022, and since then has started an uptrend. Considering the indicators in lower timeframes, it's the beginning of the 3rd impulse wave (1D) targeting $2300, but that wouldn't be the end of the 3rd wave. It's also slightly possible the price quickly touches the $1650 level first and bounces back.