Looking at the move from the recent low, it shaped up to look like a leading diagonal. The typical overthrow of the 5th wave with a contracting diagonal has shown. I'm expecting a retrace to the zone marked between 2.65 and 2.57. This is also a great support range for this coin.
This could potentially also be the C wave of a Zigzag heading downwards, although the .618 target places us pretty low under our support levels.
This could potentially also be the C wave of a Zigzag heading downwards, although the .618 target places us pretty low under our support levels.
Note
That was a very quick move. Came down and tapped the golden zone of .618 - .65 retrace and bounced. You might be able to suggest a 3 move downward for completion of the 2, or we're just beginning a larger retrace in relation to the initial larger Wave A down for the recent low. 
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.