#Ethereum = Daily Analysis – Diagonal Breakdown = 08.07.2021 $ETH #ETH #investing #cryptocurrency #crypto

ETH has likely completed a diagonal. Initial target for decline – $1700-1705.

From the perspective of Elliott Waves, it has completed a large wave (B) that started on May 23. Wave (B) was a running flat ABC that ended with a diagonal wave C. As wave C extended only 0.618 of the length of wave A, the next wave down is expected to be rather aggressive. The wave down is should retrace to the origin of the diagonal – $1700-1705. The retrace could happen very fast, within 1-2 days.

It is very possible that the stop at $1700 marks only the first wave down with more decline after a pause.

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Previous Monthly:

The call on May 16:

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