Ethereum Outlook for Week of June 03, 2019

The Weekly and Daily timeframe charts of Ethereum (using a log scale) are presented below. The Weekly timeframe helps put the price of Ethereum into perspective from inception. Price channels are used capture price action, with the most recent and active channel being a bullish channel.

A breakout of the previous Weekly timeframe bearish channel in the week of April 01, 2019 does confirm a trend change, and therefore the current bullish bias.

The Daily timeframe does provide an Elliott Wave Analysis of Ethereum from the December 15, 2018 price low of $83.19.

Key levels to focus on: 217.48, 200.47, and 183.46 (based on data from BITFINEX).

Outlook: Trajectory provided on the Daily timeframe chart implies the path of price action prior to the completion of a Minute wave ((iii)) that is expected to target the $330.

Note: Prices can vary between Ethereum exchanges. As a result, there may be differences in the charts provided above due to different data sets.