Ethereum (ETH): MACD Temporary Pierce of lower Trendline Likely

SUMMARY

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The H&S Top patern for Ethereum (ETH) is progressing as shown below. The red ABC outlines the projected correction towards $481 to $461 or so. That would equate the level of 0.78 Fib level retracement. Red A is sublabled with blue abc and red C with blue 1,2,3,4,5 of which wave 4 is likely in progress and 5 should aim for the 0.78 Fib zone.

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The longer term remains little changed. The red ABC is included to outline the minor, healthy correction towards 0.781 Fib (white circle). The MACD should turn up once red C is complete and until then, a temporary pierce of the lower blue trendline is likely.
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