### Ethereum is complying with the analysis done days ago. Today wave 4 could form at 420 dollars, already expected in yesterday's analysis. Today we will see if etheruem could still reach $ 520 dollars or if it will continue to correct the price?

Today we will continue with the analysis of ethereum ### Let's see

![Captura de pantalla 2020-09-02 a las 2.23.29 p.m..png](https://cdn.steemitimages.com/DQmQrdUeTUERrDnRzs2rWb7B13TbpzHJmA8E1BdseJZn1pJ/Captura%20de%20pantalla%202020-09-02%20a%20las%202.23.29%20p.m..png) > Yesterday I did an analysis of Ethereum following an ascending channel, sometimes it has broken at the top reaching a trend line and the price has rebounded at the time of doing this analysis ![Captura de pantalla 2020-09-01 a las 3.19.11 p.m..png](https://cdn.steemitimages.com/DQmTcMTRy6dVEMrPFKt5WNDLqQ8Nb4wgZuszvA7XMC9BbcL/Captura%20de%20pantalla%202020-09-01%20a%20las%203.19.11%20p.m..png) Today begins to correct the price, at the time of making this analysis the price is at $ 430 dollars. Elliot wave analysis ### Analysis according to Elliot

> I have updated the elliot waves considering that Ethereum continues with its bullish cycle, without having a correction that suggests that the main cycle of 5 main elliot waves is complete. Analyzing the graph, we can say that we are in wave 3 of 5 main elliot waves.

### Elliot Subwaves

> Within these 5 main waves we can analyze and define elliot subwave cycles We can identify a new cycle 5 subwaves of elliot as we see in the graph Analyzing the chart we can define a bullish sub momentum. We see the beginning of a bullish momentum, that if we analyze with sub waves of elliot we could identify the first 3 waves fulfilled and project the remaining waves of elliot In subwave 1 the price reached $ 411 dollars and 2 corrected the price to approximately $ 360 dollars, reached wave 3, reaching $ 485 dollars and today we are seeing a setback to $ 430 dollars. > As we see today, we could be fulfilling wave 4 of the 5 subwaves of elliot that could take the price up to $ 520 dollars in wave 5 Yesterday we announced a correction up to $ 430 dollars and at this time the price is complying with the analysis. How is the objective determined? > If we measure the height of the first secondary wave and its correction to the second wave, we can project a target with the Fibonacci extension for waves 3 and 5 ![Captura de pantalla 2020-09-02 a las 2.27.06 p.m..png](https://cdn.steemitimages.com/DQmZZajSuywtPSMh7NUb3JRNkeHLq9ch4frBnV2sJN6krqN/Captura%20de%20pantalla%202020-09-02%20a%20las%202.27.06%20p.m..png) We could consider wave 4 complete in a Fibonacci extension of wave 0 and 3 with the retracement at 4, to project a wave 5 at 0.618 This allows us to measure the target of a 5 fibanacci wave If we apply Fibonacci extensions, we can define a possible wave 5 target, which would take the price up to approximately $ 525 ![Captura de pantalla 2020-09-02 a las 2.23.29 p.m..png](https://cdn.steemitimages.com/DQmQrdUeTUERrDnRzs2rWb7B13TbpzHJmA8E1BdseJZn1pJ/Captura%20de%20pantalla%202020-09-02%20a%20las%202.23.29%20p.m..png) If you go back more than $ 410, cancel this elliot analysis ### Bullish

1. Target: between $ 235 and $ 245 approximately. (compliment) 2. Target: range from $ 270 to $ 280 approx. (compliment) 3. Target: range from $ 310 to $ 320 approx. (compliment) 4. Target: range from $ 350 to $ 360 approx. (compliment) 5. Target: range from $ 510 to $ 520 approx. ### Other possibility > We must always consider the downside possibilities of a wave 4 Bearish

1. Target: between $ 370 and $ 350 approximately. > After completing the 5 sub-rounds of elliot, you must perform a price correction. It will depend until the price corrects the possibility of giving ethereum a further boost to the upside. #### What you think?

Remember to give your post a vote, Always support good content. Thanks Follow me it costs you nothing and you get a Healing Reward with Your Vote ![bitcoin-imagen.jpg](https://cdn.steemitimages.com/DQmPHQJdHd8axmDUH8GmoJXBPt2pHQX2tPTdTJP8oCjmJfj/bitcoin-imagen.jpg) Protect your assets use Stop loss > The alcoins market is very dependent on the price of Bitcoin, when Bitcoins goes up the alcoins go up more, but also in the other sense, so I suggest that you periodically review a Bitcoin and use stop loss and move it when they are already in profit. Do not let a profit become a loss. We will continue monitoring To be attentive Protect your Investments Lately I have noticed that there is no good analysis on steem, everything takes time, I ask that as you read them leave your vote, it is a way to encourage you to continue making more reports, thanks. Feel free to use and share my post or graphics, but please mention, @criptoar as the author. Otherwise, consider plagiarism and I will call you and advise my friends to do the same. READ DISCLAIMER: this publication / analysis is only for general information purposes. I am not a professional trader and I will never be a financial advisor. The material in this publication does not constitute any trading advice of any kind. This is the way I see the paintings and what my ideas are. Perform your own analysis before making an investment decision. Use money that you are willing to lose if you make an investment. If you make exchanges or investments after reading this publication, it is entirely at your own risk. I am not responsible for any of your gains or losses. By reading this publication, you acknowledge and agree that you will never hold me liable for any of your profits or losses. ![Captura de pantalla 2020-05-09 a las 11.59.54 a.m..png](https://cdn.steemitimages.com/DQmRp7jUMBLygU2uva7xM8dpUcahZepykbQSj6EMmjh7F4i/Captura%20de%20pantalla%202020-05-09%20a%20las%2011.59.54%20a.m..png) Vote for the post. Always support good content. Follow me it costs you nothing and you get a Healing Reward with Your Vote