Market Analysis by Dr. Arnout ter Schure covering: ETH/USD. Read Dr. Arnout ter Schure 's Market Analysis on Investing.com
. Back then, we expected ETHUSD to correct to ideally $1950+/-150 before it would stage a rally to ~$4400, contingent on “[if ETHUSD continues to rally and breaks out above the January 12 high without going below the January 23 low, the grey W-iii is already underway to at least $4400The latter is what happened, and the crypto topped on March 12 at $4093 and started to correct.
In addition, our big-picture EWP count, see Figure 2 below, shows that Ethereum still needs to wrap up the green W-3, -4, and red W-iii, iv, -v to complete the larger Blue W-V, contingent on holding above the grey W-i high at around $2700: red dotted horizontal line. However, ETHUSD only kicked off Bear markets on negatively diverging RSI and MFI readings , while the price action in the blue boxes shows the recent RSI and MFI breakout is like that for the 2019-2021 Bull.
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