ETH / USD has moved exemplarily along the downward trend channel.
I had written that if the last intermediate high at $743.00 (wave b) is no longer exceeded, it is more likely that the price will fall again.
It did so and targeted the first specified target cluster at $540.00. There, the price reacted with a small counter-movement.
However, the experienced Elliott Waver notes that the final wave c has only three sub-waves at that time, which means that a final low is still missing.
With the low at $492.50, this wave count alone could have formed the correction low and now establish a longer-term and upward countermove.
It is important that this low is no longer undershot should a sustained turnaround occur at ETH.
This is NOT investment advice and does not encourage buying or selling. Every reader is aware of this and makes his own investment decision with his own understanding of risk management!
Cheers Jessy