#ETHEREUM Under Cloud 27.05.2021

$ETH formed a strong Dark Cloud Cover today. If confirmed, the next target area, as forecasted before, would be 1700-1600.

If it makes a lower low, I would consider the whole structure off the Top as a motive wave. It would mean that the correction is not complete – after a multi-week see-saw movements, it should be another wave down, though it is a bit early to talk about it. Let’s see whether ETH hits a lower low in the next few days.

Important:

  1. A monstrous bearish candle is developing on the monthly scale.
  2. If $ETH goes below 1423.20, a triple-digit price should not be a surprise.

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The call on May 16:

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