In daily chart, Ethereum is at the end of the last Elliott correction wave, the price has reached the 50% fibonacci level which is another sign that there will be a move to the upside,besides the chart pattern shows a Bullish falling village that is forming .
The red candle is telling us that a correction is taking place before going up again.
My analysis tells me that the price could get to the previous support level which is around $3901. I have set my stop loss at the previous low.
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