SUMMARY
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Ethereum (ETH) is faithfully putting in the microwaves to the red C wave of the ABC correction. The below chart shows a wedge pattern in development. The subwaves of red wave 3 are show to have putin a nice five wave sequence (white). Red wave 4 is also likely completing the subwaves as shown by blue abc. Once red wave 4 is complete the five wave down for red wave 5 would be next.
Currently the correction is still within the Bull Flag pattern and the red ABC is likely at its terminal end. The cluster of support (white circle on price) is holding up the decline for a bounce. The 0.78 Fib level is still the target; though, the 0.618 could also serve as the pivot point up.
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