This update reviews Ethereum’s current market structure and pattern development using hand-built monowave charts and orthodox NEoWave logic.
2.5 Yearly Chart
Ethereum completed am impulsive move in 2018 (same as Bitcoin) and has been correcting ever since. I break down Wave-2 below.
Blue (higher degree):
Wave-1 complete in 2018, Wave-2 in progress.
Trend= UP,
Green (lower degree):
Wave-(b) is confirmed complete, wave-(c) in progress with price/time box giving the potential vector.
Trend= DOWN
Monthly Chart
Tracking Wave-2:
Wave-(c) is tracing out a Neutral Triangle and is nearing completion.
Weekly Chart
Tracking Wave-e:
Wave-(e) is just getting started and has more time per the Monthly Chart.
Bottom Line
Ethereum is in Wave-2 with Wave-e of (c) of 2 evolving.