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, the cycle from 12/07/2018 ($83) ended at 06/27/2019 peak ($363.60) in wave ((1)). Down from there, wave ((2)) pullback unfolded as zigzag structure where wave (A) ended at $174.20 low. Wave (B) bounce ended $224.79 high and wave (C) is proposed complete at $117.24 low. Near-term, while dips remain above $117.24 low and more importantly above $83 low expect Ethereum to extend higher.
ETHUSD 8 Hour Chart 2.11.2020