Markets Technical Analysis

Outlining Potential Ethereum Correction Scenarios

By Valdrin Tahiri
Updated by Kyle Baird
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In Brief

  • The Ethereum price is possibly finishing the third and final wave of a W-X-Y correction.

  • The price has broken down from a long-term ascending support line.

  • There is resistance and support at $250 and $170.

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The Ethereum (ETH) price has broken down from a long-term ascending support line, indicating that it has likely begun a corrective movement. On June 25, the Ethereum price broke down from an ascending support line that had previously been in place since March 13.  This is a sign that the upward trend has likely ended, and will see ETH continue moving downwards. Ethereum Loses
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Valdrin Tahiri

Valdrin is a cryptocurrency enthusiast and financial trader. After obtaining a masters degree in Financial Markets at the Barcelona Graduate School of Economics he began working at the Ministry of Economic Development in his native country of Kosovo. In 2019, he decided to focus full-time on cryptocurrencies and trading.

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