just like BTCUSD
has clear corrective intraday structure within downtrend! So, we are tracking deeper a-b-c correction in which we can clearly count five waves down into black wave "a" and then slow sideways corrective move within black wave "b", which seems to be completed exactly at 61,8% Fibonacci retracement
, which is actually ideal retracement for wave "b" in EW theory. Currently ETHUSD
falling nicely from that resistance, so we assume that price heading much lower into black wave "c" within five waves down towards 500 level, where black wave "c" can be equal to black wave "a".