- Ethereum is trading 0.14% higher on Monday as the other majors have an off day.
- The ETH/USD pair is following the Elliott Wave patterns pretty well at the moment.
ETH/USD 60-Minute Chart
Below is the 60-minute chart for ETH/USD and it seems it’s falling in line with the Fibs.
As you can see from the formation of the black lines the wave formation looks like it falls into the Eliott Wave sequence.
That would be a 5 wave pattern which follows the laws of Fibonacci.
Even the wave pattern on the retracement has a nice 5 wave pattern.
We have a nice Elliott Wave explainer if you would like more information on how it works (click here).
For the pattern to confirm to the upside a break of 263.85 will be needed, so now this is the level to watch.
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Additional Levels
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