Currently ETHUSD is in an AB extension to the D target of $466.33USD.
Looking at the sub AB retracement (a=$136.12 and b = $258USD) it has made a 0.618 retracement to $182.68USD. It broke the counter trend line on Aug 08 to begin its extension to the capital D $466.33, however its about to hit its sub d target at $332.32USD. At this point expect a pull back as profits are taken where ETH should fall back to support at approx. $236USD which will be a good entry point for those wanting to go long.
I will provide an update over the next day to explain the next sub ab retracement.
Looking at the sub AB retracement (a=$136.12 and b = $258USD) it has made a 0.618 retracement to $182.68USD. It broke the counter trend line on Aug 08 to begin its extension to the capital D $466.33, however its about to hit its sub d target at $332.32USD. At this point expect a pull back as profits are taken where ETH should fall back to support at approx. $236USD which will be a good entry point for those wanting to go long.
I will provide an update over the next day to explain the next sub ab retracement.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.