Here is daily chart of Ethereum. From the recent top made on 14th August, ETH has fallen in clear 5 waves which tell us that near term trend is down. We currently seem to be in corrective wave 2, though it might already be over since it has retraced 38.2% which is the minimum we expect. Wave 2 also shows a clear abc correction.
Once we break the wave 1 low of 1422, we should be reasonably confident that wave 3 down has started and then it should go around 1150 levels at the minimum. If you’re one of the bulls who hasn’t yet given up, you need to at least be cautious now, if not full-on bearish.
