A couple of weeks back the price of Ethereum was static at $3580- which resulted in quite a few traders using the Elliott Wave Principle. This helped them note that as long as ETH would stay above the price range of $3173 for the next couple of days, it would ideally be seeing a score of $4000.
Then the next intermediate wave-ii would be taking hold for a few more days until the third wave brings itself. The third wave will simply be the last opportunity for one to keep loading up the boat- as more and more buyers would be stepping in to purchase the stocks in this cryptocurrency.
Ethereum Will Provide A Sweet Opportunity To Purchase
Moving on to the current atmosphere, the price of Ethereum has topped at $3968 on the 15th of October. Currently, the situation seems to be pretty stable. As of now, the expected five waves higher from the lows of September would look exactly as complete as they would hope for, ETH should ideally be in the intermediate wave-ii, to a position around $3350 before wave-iii kicks in and starts lifting the cryptocurrency to a position of $7,500.
The truth about this prediction lies in the belief that most financial markets are quite fractal- with cryptocurrencies like Ethereum no different. Now, the EWP tracks are simply that- the cumulative nature of the price’s advance through the multiple waves up and the multiple waves down.
Currently, a similar pattern can be seen in Ethereum now. This should come as no surprise to anyone as the Premium Crypto Trading Members have an idea that the EWP count would be showing ETH topped for a Primary III Wave in the June of 2017, which would then bottom for a Primary IV wave in July. It also completes Major-1 in August, with the intermediate wave-i in October 2017.