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Elliott wave analysis: Can we see 1k in Ethereum?


Ethereum dropped into our projected bottom target zone as expected and bounced sharply, which is the first sign for a completed correction. On the daily logarithmic scale chart below you can see that Ethereum bounced exactly from previous wave IV support after a three-wave setback, which is actually an ideal reversal point. Besides that, we also see a weekly reversal candlestick, which also suggests that bottom can be in place, at least temporary one.

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