Ethereum / Tether USD
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Correction of First Elliot Wave of New Cycle

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It appears a triangle has formed, with strong momentum divergence. This in conjunction with completion of the fifth wave of the higher degree Wave ((i)) suggests we have commenced the Wave ((i)) correction (first wave) of the new cycle. This should take us down to the 0.5 x Wave ((i)) area ($304) or the 0.618 x Wave ((i)) area ($295).

Additionally, the ABC correction wave, as a guideline, usually corrects to the Wave (iv) area of the smaller degree wave ($313).

Target: $295-$313
註釋
Udjusted targets and clearer chart:

Update: Correction of First Elliot Wave of New Cycle
註釋
Update considering extended sideways correction:

Update II: Correction of First Elliot Wave of New Cycle

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