An amateuristic attempt to objectively analyse what is going on.
Yellow lines: Possible positive/negative trends since 1/1/2018 (neutral) Orange line: Trend since beginning of Ethereum (positive) Green line: Start of a possible bear --> bull turnover (positive) White lines: Elliot waves since 1/1/2018 on a macro scale --> Upward 3 wave correction will follow (positive) Blue lines: End of meso Elliot wave --> will be a 3 wave downward correction (negative)
Based on these lines: its a 3:1 for upward movement.
Trading volume is low, the longer this stays around this volume with no big dips in price, the more likely an upward trend will happen.
I'm very open to hear any analyzing mistakes I might be making, for I'm only doing this to learn.
This is by no means trading advice, I'm just trying to get the hang of this :)