Ethereum retraced quite a bit but has appeared to have bottomed out near $3100, just above the 50% retracement of our Fibonacci levels, at $3240. A technical, psychological and Fibonacci level at $3500 does appear to be providing resistance at the moment, and will take some momentum to break through. If we are able to break this level, $3646 and $3870 are the next targets. This retracement appears to be the corrective segment of a 5-3 Elliott Wave, so we anticipate a breakout soon. Additionally, we appear to have a double bottom at around $3100, with two red triangles on the KRI. The Kovach OBV looks like it is starting to pick up again.
Join my discord at discord.io/quantguy
