Ethereum is forming the third part of a downward simple zigzag [A]-[B]-[C], a bearish wave [C]. It can take the form of a five-wave impulse (1)-(2)-(3)-(4)-(5). At the moment, the first two small sub-waves (1) and (2) look completed. In the short term, the price is expected to decrease within sub-wave (3) towards level 2429.00. At the indicated level, sub-wave (3) will reach the Fibonacci level of 161.8% of sub-wave (1).
Trading plan for ETHUSD today:
Take profit: 2429.00.