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$ETH #Ethereum $ETHUSD #ETH

W: major downtrend still being respected, stochastic rsi showing bullish momentum has topped out. However when looking at our most recent weekly candles we can see support is forming, a minor uptrend is intact.

D: shifting over to our pattern timeframe we see the same correctional elliot wave pattern playing out. a daily close above $225 is a good sign we continue towards $250. stochastic rsi showing bearish momentum has bottomed out and is turning a new leaf.

4H: more eye candy; 4hour resistance shown at $226 has been broken with our previous candle. stochastic rsi showing momentum heavily in favor of the bulls with no signs of slowing down. 4hr resistance at $245.