#ETH = Daily Analysis = 23.11.2021 $ETH #Ethereum #cryptocurrency #crypto #HODL

$ETH has much higher chances to continue down than upwards. Possible next target remains the same – $3640-3850. Let’s have a look at the coin from different angles.

This daily overview contains:
– daily candle chart – analysis of candles and technical events;
– detailed hourly EW chart and a short term projection;
– classical patterns;
– forecast for this week.

CANDLES

Daily
Today ETH printed a bullish Engulfing candle. As the move was not fully supported by multiple indicators, it requires a confirmation.
A green candle tomorrow would confirm the bullish rally. Any red one below ~$4200 would mean that the bears are in charge.
At this point there are too many options and it is better to wait for a confirmation on the trend and remember that the weekly candle was very bearish.
Odds: Neutral-Bearish

ELLIOTT WAVES

From the perspective of direction/channel, the hourly chart remains the same for the last seven days. After a little bounce today, I added a few possible counts to track. In general, all of them are bearish and expect a move lower.
I will add a bullish count as soon as ETH confirms a reversal.

Target area for wave 5: $3640-3850
Target by flag: $3640
Timing by channel: possibly this week.

FORECAST

ETH is bearish with the target of $3640-3850 that can possibly be achieved this week. The target area is marked by a red rectangle.

Once ETH makes a new low, it would be considered as a very significant event and it will be discussed at a greater length once it happens.

The subscribers will be alerted daily about any major changes in direction.

Good luck!

BTC Weekly & Alert:
https://investingangles.com/2021/11/21/btc-weekly-bearish-engulfing-alert-weekly-analysis-21-11-2021-btc-bitcoin-crypto-cryptocurrency-investing-trading/

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