### Ethereum is gaining momentum to the upside breaking the daily average of 21 periods

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 2020-09-18 a las 11.02.10 a.m..png](https://cdn.steemitimages.com/DQmZYj5nf53v5tyFrWnvQtuRCaanBGqKBK6AXnRr28aw9FU/Captura%20de%20pantalla%202020-09-18%20a%20las%2011.02.10%20a.m..png) #### The price of ethereum seems to have found a support days ago at 310 dollars and a new upward cycle has begun

>I have drawn several uptrend lines on the chart, to take into account #### Today exceeds the mean line of 21 periods daily chart, which is a bullish indicator Elliot wave analysis ### Analysis according to Elliot

> I have updated the elliot waves considering that Ethereum continues its bullish cycle, completing a wave 4 of 5 elliot waves of the main cycle of 5 elliot waves Analyzing the graph, we can say that we are starting on a wave 5 of 5 main waves of elliot.

### Elliot Subwaves

> Within these 5 main waves we can analyze and define elliot subwave cycles ![Captura de pantalla 2020-09-18 a las 11.02.49 a.m..png](https://cdn.steemitimages.com/DQmPQ3V6E2Neb5FAyCMCJ5Ygw4eg21vJ8YMeALXKmtXyGy2/Captura%20de%20pantalla%202020-09-18%20a%20las%2011.02.49%20a.m..png) 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 elliot sub waves we could identify the first 2 waves fulfilled and project the remaining waves of elliot In subwave 1 the price reached $ 360 and 2 corrected the price to approximately $ 325 and today we are seeing an upward momentum that could reach approximately $ 406. > As we see today, we are forming a wave 3 and then wait for the correction of a wave 4. 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 If we apply Fibonacci extensions, we can define a possible objective of wave 5, it could take the price up to $ 450 dollars approx. ![Captura de pantalla 2020-09-18 a las 11.01.09 a.m..png](https://cdn.steemitimages.com/DQmf1t7shXdbU3k2k7ZnThsxTeRL5Wk6CTTS4sbK89m7MVo/Captura%20de%20pantalla%202020-09-18%20a%20las%2011.01.09%20a.m..png) If you go back more than $ 350, 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 $ 440 to $ 450 approx. ### Other possibility > We must always consider the downside possibilities. We can consider that wave 4 of the main count is not forming. It could be forming an elliot ABC cycle, where A would be fulfilled and we are seeing a bullish retracement to form B. It will depend as far as B goes, to be able to project the C wave. Bearish

1. Target: between $ 270 and $ 250 approximately for a possible wave C #### 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