Ethereum slipped through $1,760 on Wednesday after hitting the $2,015 highs early this week. The crypto seems to have found interim support at around $1,760 and is now ready to resume higher again. Bulls are looking poised to hold prices above $1,700 and push through $3,000 and up to $3,500 going forward.
Ethereum has been unfolding a standard flat corrective wave since the $1,700 lows as seen on the daily chart here. It is probably into its last leg higher towards $3,000 and up to $3,500. Further, bulls have carved a lower degree upswing between $1,705 and $2,015 over the past week, which has been retraced towards $1,760.
Ethereum should be on its way higher towards $3,000 if the above structure holds well. The overall larger degree wave structure is presenting a bearish view after prices dropped from $4,850 to $1,700 earlier. The above downswing is now being retraced and prices are expected to rally through the $3,500-3,600 area before turning lower again.
Potential rally towards $3,000 and $3,500 against $1,700