Ethereum to $900 or $9000?

Market Analysis by Dr. Arnout ter Schure covering: ETH/USD. Read Dr. Arnout ter Schure 's Market Analysis on Investing.com

), bottomed on August 5 at $2121, rallied overlappingly until the end of the month, and sits today at around $2480.

Note that at today’s low, almost 76.40% of the potential W-i rally was retraced, a typical level for a 2nd wave. Moreover, the technical indicators are starting to creep up, which is a positive development. Meanwhile, in our previous update, we also found that “Unfortunately, we still cannot delineate between the"low in," as shown in Figure 1, and the"one more 5th wave lower" option.” This is, regrettably, still the case. Namely, the Bulls' third warning level is holding, but if it fails, we will have to look for the low 2000s again. See Figure 2 below.

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