EthereumLong
ETHUSD continues to rise.
ETHUSD continues to rise. In the Ethereum movement, a rising wave sequence has formed, with the rising slope formed by two ATR axis channels. It is worth observing the lower yellow square, the corrective wave in it was formed on the retracement of the channel. This is noteworthy because currently the price movement is building a similar correctional fractal at the top of the channel, where another exit correctional wave in the yellow square is building. This observation is important for two reasons. In the event that ethereum rises again then it is strongly suspected that another rising sequence is being built. In this case, it is useful to consider the amplitude of the descending wave sequence that exits at the bottom of the channel and is bounded by a dashed auxiliary line. This is also expected at present but in the opposite direction. At the intersection of the rising wave sequence exiting at the top of the channel and the auxiliary line truncated at the top. This could be the next target price. In summary : I expect further upside in the ETHUSD movement. Next target price : 5864.54 usd
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