Since vaulting back above the $500 level five days ago, Ethereum has spent the last several days oscillating within a fairly tight range – there are now strong signs that Ether could be getting ready to launch into its next advance:
A decisive breakout above $535 would target $575, then $625. It’s also worth noting that if $360 is in fact a major low (which looks quite likely at this point), the next advance could be the 3rd wave of a 5-wave Elliott Wave sequence which means that this next leg higher should target $740+ before the next correction takes hold. There is minor support at $520 followed by a much bigger level down at $500.
DISCLAIMER: The work included in this article is based on current events, technical charts, and the author’s opinions. It may contain errors, and you shouldn’t make any investment decision based solely on what you read here. This publication contains forward-looking statements, including but not limited to comments regarding predictions and projections. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The views expressed in this publication and on the EnergyandGold website do not necessarily reflect the views of Energy and Gold Publishing LTD, publisher of EnergyandGold.com. This publication is provided for informational and entertainment purposes only and is not a recommendation to buy or sell any security. Always thoroughly do your own due diligence and talk to a licensed investment adviser prior to making any investment decisions. Junior resource companies can easily lose 100% of their value so read company profiles on www.SEDAR.com for important risk disclosures. It’s your money and your responsibility.