Ethereum is an open-source blockchain-based in addition to a decentralized platform featuring smart contract functionality and ETHUSD is the value token of the Ethereum blockchain against US Dollar.
Down from 01/13/2018 peak $1424 the pullback in Ethereum is proposed complete in wave “(b)” as a Flat structure at 12/07/2018 low ( $83). Up from there, expect Ethereum to extend higher in the next Daily cycle higher.
Now, cycle from 12/07/2018 ($81.83) ended at 06/27/2019 peak ($363.60) in wave ((1)). Up from $81.83 it ended wave (1) at $188.17 peak and the proposed pullback in wave (2) at $148 low.
Above from there, internals unfolded as 5 waves structure and ended wave (3) at $290.51 and completed the pullback in wave (4) at $225.50 low as well. Above from there, wave (5) of ((1)) ended at $363.60 peak. Below from there, it has been correcting the cycle from 12/07/2018 low in the sequences of 3-7 or 11 swings in wave ((2)). It should see ideally the equal legs from wave (W)-(X) towards 226.77-107.35 where it should end wave ((2)) pullback and a bigger reaction higher should be taking place.
ETHUSD 4H Chart 7.14.2019